Mark Richards joined BNP Paribas Asset Management as head of flexible and absolute return within its multiasset, quantitative and solutions investment division, a spokesman said.
Mr. Richards replaced Tarek Issaoui. Mr. Issaoui has left the firm and details on his future role were not available.
Based in London, Mr. Richards reports to Maya Bhandari, global head of multiasset. He is responsible for the performance of the flexible and absolute-return strategies and ensuring the portfolios are aligned with the investment committee's views, a news release said. He will also work closely with the other teams across the multiasset, quantitative and solutions division.
The flexible and absolute return range includes total return, target return, target volatility, thematic and income strategies.
"His addition to the team will be invaluable as we expand our multiasset capabilities and continue to deliver sustainable returns to our investors in a challenging macroeconomic environment, and I look forward to working with him," Ms. Bhandari said in the release.
The MAQS division runs €135 billion ($155.3 billion) in assets, with about €116 billion of that in multiasset portfolios on behalf of institutional and intermediary clients.
Mr. Richards was a senior fund manager at Jupiter Asset Management, where he was responsible for identifying and implementing key investment themes across a range of flexible and multiasset strategies. A spokesman could not be reached for comment.
