BNP Paribas Securities Services appoints Linda Morsia as head of UK depositary bank
BNP Paribas Securities Services has appointed Linda Morsia as head of its depositary banking business in the UK.
With 12 fund domiciles in Europe and around EUR900bn in assets under depositary, BNP Paribas is one of the largest depositary banks in Europe.
Morsia joins from State Street Trustees, where she was head of client management, sales and business development. She brings over 30 years’ experience in depositary banking having worked in operations, compliance, client relationship and sales roles. She reports to Arnaud Claudon, head of depositary banking at BNP Paribas Securities Services.
Claudon says: “The UK is a key market for us and we are delighted that Linda has joined our team to oversee the development of the business.
“Since launching the service in the UK we have seen great success including several impressive mandate wins. This is part of our global strategy to service our clients to the best possible standard in every location and support their activity where they need us.”
BNP Paribas launched its depositary bank in the UK in 2012 in response to demand from its UCITS clients as well as the impending implementation of AIFMD. Under the directive, non-UCITS funds in Europe must appoint a depositary bank to provide cash monitoring, safekeeping and oversight of assets. The bank has announced several other geographical expansions for its depositary banking network including most recently the Netherlands and Switzerland.
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