Most analyst moves tend to be from the sell side to the buy side. But in a contrarian move, Jeff Kung is leaving the embrace of Fidelity Investment Management to join BNP Paribas Peregrine.

At the French investment bank he will become regional head of company research, overseeing country and sector equity research for non-Japan Asia. He will work closely with Raymond Foo who runs the bank's strategy and economic research. He reports to Christophe Grosperrin, head of Asia securities.

Kung joins the bank after nine years with Fideltiy. During that time he ran the fund house's regional research team for three years and also worked on institutional portfolio management for six. Prior to Fidelity he worked for Barra analyzing portfolios for equity portfolio managers.

"We are pleased to have Jeff join our firm and take up the important position of heading up our research department," said Grosperrin. "With his research expertise and experience in asset management, we are sure he will augment our existing research capabilities."