After six years overseeing JP Morgan Asset Management’s business in Southeast Asia, Steven Billiet has left his role as Singapore chief executive.

Currently on gardening leave, he is set to join BNP Paribas Asset Management to oversee its Asia-Pacific institutional business, multiple sources have told AsianInvestor. As such, he would replace Mark Speciale, who left the French firm last year to return to his native US.

Steven Billiet

The sources also said that Billiet may be being lined up ultimately to succeed Ligia Torres, Asia-Pacific chief executive of BNP Paribas AM. Torres is believed to be looking to retire in the not-too-distant future.

A BNP Paribas spokesman declined to confirm or deny whether Billiet was joining the firm.

Meanwhile, Billiet confirmed to AsianInvestor that he had a post lined up but declined to reveal the firm he would be joining or in what capacity.

A well-placed source familiar with the asset manager said the firm had been moving to consolidate all Asia-Pacific distribution under one individual. It would make sense to first fill Speciale’s role, which would then be a training ground for Torres’s replacement if/when she ultimately retires, the executive added on condition of anonymity.

It is likely that Australia, New Zealand, Japan and Taiwan would report to Billiet, as they had previously to Speciale, said the unnamed source.

Ligia Torres

Since Speciale departed, his former duties were to be looked after by Christian Bucaro, Singapore CEO and head of Asia-Pacific wholesale distribution, along with Japan chief executive Toki Daisuke and Australia chief executive David Grybas, a well-placed source had told AsianInvestor.

At JP Morgan AM, Andrew Creber, chief administrative officer for South Asia-Pacific and before that Singapore CEO, will oversee Billiet’s responsibilities on an interim basis, a spokeswoman told AsianInvestor. Billiet’s successor will be named in due course, following a recruitment process.

Billiet had been with JP Morgan AM since January 2014 and before that spent 19 years with ING, most recently as chief executive of the Asia-Pacific investment management business.