Overseas Trust & Pension, the Guernsey-based provider of international pensions and corporate employee benefit products, has named a fiduciary and fund admin expert, Bob Banfield, to its board.
Banfield, pictured above, comes to OTAP from such other Guernsey institutions as Investec and Ogier, where he had been managing director of their fiduciary and fund administration businesses, the company said in a statement. He will take up his new role in September.
OTAP director David Higgins said Banfield’s appointment came at a time when assets under administration were around US$3bn, after just a little over four years, following organic growth and strategic acquisitions, and he added that OTAP’s management’s ambitions “don’t stop” there.
“Having the right mix of skills and talent to deliver on future objectives is vital,” Higgins added, noting that Banfield brought with him such a mix.
Banfield’s appointment will see the OTAP board re-organised, with Rob Shipman, the current managing director, taking on a technical advisory non-executive role. Shipman joined OTAP shortly after it acquired Carey Pension Benefits Ltd, and he said in the statement announcing Banfield’s new role with the company that the board’s strengthening comes as the business “prepares for further expansion into key markets”.
OTAP is a regulated fiduciary company in Guernsey and South Africa, with offices in the UK, South Africa and Guernsey. It provides specialist private and corporate employee benefit packages.
BNP Paribas Asset Management names Simeon Tsonev to EM Fixed Income team
BNP Paribas Asset Management has named Simeon Tsonev to the newly-created position of currencies portfolio manager of its Emerging Markets Fixed Income team.
Tsonev joins BNP Paribas from Credit Suisse, where he had been a vice president of FX options trading, with a focus on emerging market currencies, and had market-making responsibilities in the Asian, Eastern European, Middle Eastern and African currency options markets, BNP Paribas AM said in a statement announcing his appointment.
At Credit Suisse, Tsonev had worked out of New York, London and most recently, Singapore, developing the bank’s e-FX electronic options market-making platform and researching systematic relative value strategies in currency options on OTC and listed markets, BNP Paribas AM said. He will be based in London, and will report to Bryan Carter, head of emerging markets fixed income at BNP Paribas AM.
Tsonev, a native of Bulgaria, obtained degrees from two US universities and is fluent in Bulgarian, Russian and English, the asset manager noted. At BNP Paribas AM, he will be responsible “for alpha-generating decisions within emerging market currencies”.
BNP Paribas Asset Management’s Emerging Markets Fixed Income team currently manages US$2.7bn. Carter is said to have rebuilt and restructured the operation, which currently consists of 11 people, since he joined in February 2016, and today it includes specialists in sovereign credit, corporate credit, local rates, EM currencies and frontier markets.
BNP Paribas AM said the operation’s focus “is on alpha generation, and the team is additionally able to draw on the extensive resources across BNP Paribas Asset Management, including expertise in [the] environmental, social and governance [area]”.
BNP Paribas Asset Management is the investment management arm of the Paris-based, Euronext Paris-listed BNP Paribas group, which looks after some €580bn worth of assets on behalf of clients.
Belgian AM association elects Marnix Arickx chairman
The board of the Belgian asset managers association, BEAMA, has elected Marnix Arickx chairman, to succeed Hugo Lasat, who has been BEAMA’s chairman for the last three years.
Arickx’s mandate will run until June 2020, the organisation said in a statement.
Arickx has been chief executive officer of BNP Paribas Asset Management Belgium since 2014. He is also a board member of several Luxembourg- and Belgium-domiciled investment funds, and has been a member of BEAMA’s board of directors since 2014.
Also at BEAMA, Katrin Eyckmans and Myriam Vanneste have been appointed vice-presidents.
Eyckmans is tax counsel at Delen Private Bank – Capfi Delen Asset Management, and Vanneste works as global head of Product Management at Candriam Investors Group, and is also executive director and a member of the board of Candriam Belgium.
Appleby, the major offshore law firm, has named Alison MacKrill as a partner in its Guernsey office, where it said she will support the group’s private clients and trusts team.
MacKrill comes to Appleby after working in Guernsey for the past 14 years, and brings with her “extensive experience advising clients in various offshore jurisdictions”, Appleby said. One of her previous employers was Carey Olsen; she also spent time in Appleby’s Bermuda offices previously.
At Appleby in Guernsey, she joins the office’s existing partners Kate Storey, Jeremy Berchem and Anthony Williams.