BNP Paribas Asset Management has appointed Olivier de Larouzière as Chief Investment Officer for Global Fixed Income. Based in Paris, he will report to Rob Gambi, BNPP AM’s Global Head of Investments.
With more than 25 years’ experience of fixed income investment, Larouzière will head BNPP AM’s global fixed income platform, while retaining his existing responsibilities as Head of BNPP AM’s Global Multi Strategy Product (GMS) team and will additionally join BNPP AM’s Business, Investment and Investment Management committees.
Larouzière joined BNPP AM in January 2019 to manage the GMS team after having previously been Co-CIO of Fixed Income at Ostrum Asset Management. Prior to that, he was a senior portfolio manager at Credit Lyonnais Asset Management, having begun his career as a fixed income portfolio manager at Ecureuil Gestion.
BNPP AM’s global fixed income group manages EUR 168 billion of assets (as at 31 December 2020) in single- and multi-strategy products across sovereign debt, corporate credit, emerging market debt, structured securities, currency, as well as money market products, insurance products and credit research.
The division is staffed with more than 80 investment professionals located in London, Paris, New York, and Asia-Pacific.
Rob Gambi, Global Head of Investments of BNP Paribas Asset Management, commented: “During the past two years in which he has headed multi-strategy fixed income, Olivier has been instrumental in developing the investment philosophy and approach of the teams for which he has been responsible. I welcome him to his new role and look forward to working with him as he develops our fixed income capabilities further in order that we can continue to deliver long-term sustainable returns to our clients.”
Regarding fixed income, The Industry Spread has just reported the fintech disruption being implemented by Singapore-based iSTOX.
Using blockchain and smart contract technology for multi-asset digital securities, iSTOX has gone live with its product line of digital commercial papers.
The firm partnered with CGS-CIMB and iSTOX to launch a S$150-million commercial paper programme in digital securities form. The issuance, being carried out using digital securities, will be used to fund operating expenses and near-term obligations of CGS-CIMB. Investors were offered a 1% per annum interest rate over 3 months.
iSTOX also facilitates digital issuances for other private market securities, including funds, bonds and equity. The efficiency gains from tokenisation enables fractionalised ownership, lower fees and better liquidity.
The firm uses blockchain and smart contracts to automate manual processes in the issuance, custody and post-sale management of a security, such as the payment of dividends or coupons, the real-time tracking of ownership, and the settling of trades, which happens instantly on the iSTOX exchange instead of the 2 or more working days needed by most exchanges.
The iSTOX platform boasts accredited investors from 24 countries, spanning Asia, Europe, the Americas (excluding the US), Australia and New Zealand.