Two months after his appointment as co-CEO of wealth management for Asia Pacific, BNP Paribas’ best-known China banker has resigned from his role, finews.asia has learned.
BNP Paribas’ co-CEO structure in Asia comes to an end with the resignation of Andy Chai, who was elevated to the top job in October after his success as the bank’s head of greater China. A veteran banker, Chai is widely expected to continue his career in the industry.
Arnaud Tellier, a 29-year veteran of BNP Paribas, who was co-CEO of the region with Chai, assumes sole charge, effective immediately.
A spokesperson for the bank confirmed the new moves.
Dual Reporting Structure
As co-heads, both Tellier and Chai reported hierarchically to co-CEO of BNP Paribas Wealth Management, Vincent Lecomte, and functionally to CEO Asia Pacific of BNP Paribas Group, Eric Raynaud.
BNP Paribas continues to retain one of Asia’s best known-bankers, Mignonne Cheng, as its regional chairperson for wealth management although her role is believed to be largely key client-facing rather than strategic or administrative.
