“Truly global” is one of the catch phrases of Patrick Colle, general manager of BNP Paribas Securities Services, who is poised to continue the organisation’s expansion.
BNP Paribas Securities Services has been growing in recent years in spite of the financial crisis and the subsequent global recession. Prior to 2008, the bank was predominantly a European custodian but now its coverage stretches across Asia, Europe, the Middle East, Africa and the Americas.
Mr Colle has overseen this expansion since he took the helm in May 2010, when he became the general manager after serving as the head of BNP Paribas Securities’ UK business since 2008. This is his eighth year at the firm. He previously worked at JPMorgan Chase for 20 years in a number of positions – including cash management, securities clearing and custody – the last in which he was global head of American depositary receipts.
Mr Colle explains in this podcast how he plans to accelerate BNP Paribas Securities Services’ growth this year. He has set the global custodian targets for 2016, which include a pre-tax return on equity of 45%. Growth is targeted across all the regions, with the largest figure being in North America, which has a targeted compound annual growth rate of 30% between 2013 and 2016. The bank also aims to have $10,000bn of assets under custody by 2016 (it currently has more than $8bn in assets under custody), a target that Mr Colle feels will motivate his staff to push ahead with his plans to become truly global.
