BNP Paribas Securities Services has appointed Julie Cuminet as head of asset and fund services (AFS) in France. He will report to Jean-Marc Pasquet, head of France and Belgium, and Philippe Ricard, head of AFS.
Cuminet replaces Jean Devambez, who is now head of global AFS products.
In his new role, Cuminet will be responsible for custodian and depository services, transfer agent activities, fund administration and accounting.
Ricard said: “In an economic environment that is changing dramatically, Cuminet can draw from his expertise in risk management and regulatory matters to adapt our services to the needs of our clients.”
“There are many challenges, driven by new directives such as UCITS and AIFMD, which will have direct impacts. Having Cuminet on board will enable us to develop increasingly innovative solutions and enhance the quality of our services, while limiting risk by using economies of scale and adapting to the specific features of the local French market.”
