Frederic Janbon was appointed CEO of BNP Paribas Investment Partners, a spokesman said.
Mr. Janbon, who started his new position Tuesday, succeeds Philippe Marchessaux. Mr. Marchessaux will advise Mr. Janbon during a transition period and will then take on another project within the BNP Paribas group. Details on his future role at BNP Paribas were not available.
Mr. Janbon is tasked with accelerating the development of the firm as a “benchmark player” in institutional money management and client service, said a statement announcing his appointment. He was global head of fixed income between 2005 and the end of 2014. Since then, Mr. Janbon has been a special adviser to the firm's executive committee, the spokesman said.
The spokesman said there was no direct replacement as head of fixed income because a restructuring within the bank resulted in the creation of a global markets division that encompasses trading, financing and prime services businesses across asset classes.
BNP Paribas Investment Partners has €532 billion ($603.4 billion) in assets under management and advice.