Wednesday, 24 August 2016
Last updated 4 hours ago
Oct 4 2011 | 2:19am ET
A BNP Paribas alternative investments unit has installed a new leadership team and taken a larger stake in its joint-venture with National Bank of Canada.
THEAM has named Thierry de Rycke and David Gilleron co-chief investment officers for hedge funds and Eric Debonnet head of its Paris-based hedge fund solutions team. It also doubled its stake in Innocap Investment Management, which it co-owns with National Bank, to 50%.
"THEAM aims to become an international player in liquid and transparent alternative investments," CEO Gilles Guérin said.
"By hiring Eric Debonnet, Thierry de Rycke and David Gilleron, we further reinforce our manager selection and portfolio capabilities. THEAM's clients will strongly benefit from highly experienced people who have handled strategic positions in capital markets, asset management and hedge funds fields."
As for its larger stake in Innocap, Guérin said, "We believe that the expertise of THEAM's team combined with Innocap's great capabilities and proximity to North American-based hedge funds will enable us to reach our development goals and provide valuable services to BNP Paribas clients throughout the world."