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BNP Paribas hires US collateral head
13 January 2014
New hire to oversee launch of custody bank’s collateral business in US. Stephanie Baxter reports
BNP Paribas Securities Services has hired Alexandra
Ricciardi as head of product development for collateral
services in North America, Global Investor/ISF has
The newly-created role extends BNP Paribas' European collateral
franchise to North America, according to a spokesperson for the
Ricciardi will manage the US launch which is expected in the
second quarter of this year.
The move is another step in the bank's plan to expand in the US
in order to provide a complete set of services for its clients
globally. The bank's clients in Europe and the Asia Pacific
will also be able to access the service in North America once
the launch is complete.
Ricciardi joined the bank from JPMorgan Chase where she was
vice president for collateral management sales.
Before JPMorgan she worked in prime brokerage at Merrill Lynch
and Goldman Sachs.
"BNP Paribas has a very strong collateral management offering
in Europe, where we are known for our focus on client service
and asset safety.
"Launching this service in the US is an exciting part of our
ongoing expansion here, and we are very pleased to bring
Alexandra on board, her expertise and energy will help us bring
the best product offering to our clients," said Claudine
Gallagher, head of North America, BNP Paribas Securities
BNP Paribas hopes to build on the success of its European
collateral services that was enhanced last June with the launch
of a new suite of products called Collateral Access.