BNP Paribas yesterday announced the appointment of Peter Foo as the senior banker responsible for sovereign wealth funds, supras and central banks (SSCB) in Asia. Concurrent with his new role, Foo will continue to serve as the CEO of Fortis Bank's Singapore branch until its integration with the French bank is complete.
As a member of BNP Paribas' financial institutions group (FIG), he will be responsible for developing business relating to SSCBs. He will work across the entire product range -- from capital markets and strategic investments, to asset management and custody services. The appointment is effective from November 1 and Foo will report to Veronique Ormezzano, BNP Paribas' global head of FIG SSCB.
"BNP Paribas, given its financial strength and its worldwide presence in corporate and investment banking and in investment solutions, is well positioned to serve these highly demanding clients in a market environment which remains uncertain," said Ormezzano in a written statement. "I am very happy to welcome Peter in our team, and I am convinced that his deep market knowledge and long experience in the Asian region will be a key asset for us to succeed in this very exciting new challenge."
Foo joined Fortis Bank in Singapore in 2000 as head of global markets, and in 2004, he was made CEO. Other banks that he has worked for include Chemical Bank, Bank of America, Bank Austria Creditanstalt.
Fortis Bank became part of BNP Paribas in May 2009 following BNP Paribas' acquisition of 75% of Fortis Bank, including asset management and the private bank. Under the name of BNP Fortis, it provides a comprehensive package of retail banking and other financial services for private individuals, professionals and small and medium enterprises in Belgium. It also offers asset management and private banking services in Asia and the US.