BNP Paribas Asset Management ANZ chief exits

The long-serving chief executive of BNP Paribas Asset Management's local business has left the company.

After leading BNP AM's Australia and New Zealand operations for more than 14 years, David Grybas is no longer with the company.

BNP Paribas AM confirmed Grybas left with immediate effect and Mike Nikou, the chief executive for Asia Pacific, will oversee the day-to-day client strategy and relationship oversight until a replacement is found to lead Australia forward.

"We remain fully committed to our teams and clients as we continue to execute our long-term strategic vision," the company said in a statement.

In 2012, Grybas was appointed to lead BNP Paribas Investment Partners Australia, as it was known back then, replacing Robert Harrison. BNP Paribas Investment Partners rebranded as BNP Paribas Asset Management in 2017.

He was responsible for the local operation's overall business strategy, institutional, wholesale and retail distribution, client servicing, product development, marketing, as well as legal and compliance.

Grybas also served as chair of BNP Paribas's superannuation plan policy committee for nearly 12 years.

Before BNP Paribas AM, he was a manager of investments and charitable trusts at State Trustees for seven years and then worked at HSBC for one year.

The fund manager currently manages $2.6 trillion for investors following the takeover of AXA Investment Managers, paying $8.5 billion.

AXA Investment Managers was part of the AXA Group and grew to some $1.4 trillion in funds under management at the time of the takeover.

BNP Paribas AM, which comprises asset management, wealth management and insurance, is looking to bolster assets by another $572 billion over the next four years.

In its 2030 Strategic Plan released in March, the fund manager flagged its artificial intelligence (AI) ambitions, saying it will be deployed across the entire investment and servicing value chain of the front, middle and back office.

BNP Paribas AM did not respond to Financial Standard's request at the time that asked how many jobs will be made redundant as a result of this. It was reported, however, that some 1200 jobs globally were impacted following the takeover of AXA Investment Management.

In the asset servicing business, BNP Paribas Securities Services recently appointed Gary O'Brien as head of financial intermediaries and corporates client line for securities services in Asia Pacific.

O'Brien reports to Franck Dubois, who is the head of Asia Pacific for securities services at BNP Paribas.