Steven Billiet will become head of Asia-Pacific at BNP Paribas Asset Management, effective Aug. 8, the company announced Wednesday.
Mr. Billiet joined the firm in May as head of distribution Asia-Pacific. He will retain those responsibilities after taking the helm for BNP Paribas Asset Management's broader business in the region, a news release said.
Mr. Billiet will replace Ligia Torres. Ms. Torres is retiring and plans to pursue "personal interests outside the firm," a Hong Kong-based spokesman said. Ms. Torres could not immediately be reached for comment.
BNP Paribas Asset Management had €408 billion ($451.2 billion) in assets as of March 31.
Mr. Billiet was CEO of J.P. Morgan Asset Management's Singapore business. He also oversaw client segments in Southeast Asia and South Korea. In April, the firm named Sherene Ban, London-based head of the J.P. Morgan Asset Management's global beta investment specialist team, as Mr. Billiet's replacement.
