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Foreign Exchange

BNPP replaces Asia FX sales chief

BNP Paribas has appointed a new head of institutional rates and foreign exchange sales for Asia ex Japan, sources confirm to Asiamoney, a sister publication of EuromoneyFXNews.

Florian Dumas is taking over from Paul Fraser, who will leave Asia in July to relocate to BNPP in the UK for personal reasons. The bank has also replaced its head of greater China fixed income Alexander Jaeschke, who left BNPP last month after less than two years in the position.

A spokeswoman at BNPP confirms that Fraser will remain in his role in the coming weeks to complete the handover period and will relocate to the UK in July.

Fraser first joined the bank in July 2007 as Asia head of hedge funds sales for FX and rates, based in Singapore. He previously worked in a senior FX sales role to hedge funds and central banks at HSBC in Hong Kong.

In his elevated role, Dumas will oversee FX and rates distribution to all institutional clients in Asia and will work with management to review the Asian institutional sales organization, a spokeswoman adds.

In addition, Chang Geng Lai, a managing director and head of the bank’s corporate clients group in Asia, has become head of China fixed income, after Jaeschke’s departure.

According to Jaeschke’s online profile, he became head of BNP’s Greater China fixed income business in August 2010, based in Shanghai. He was previously the joint head of global markets, Asia, at BNPP Fortis out of Hong Kong, a role he held for nearly two years.

Before BNPP Fortis, Jaeschke worked in FX and rates trading roles at Fortis Bank and HypoVereinsbank in Asia and Europe.

Lai, who is based in Hong Kong and has been with the bank for nearly seven years, will continue to hold his position as head of BNP’s corporate clients group.

Since assuming the role as head of China fixed income, Lai has hired Leo Chen to the bank’s China fixed-income corporate sales desk, based in Shanghai, sources close to the appointment say.

Chen joins BNP from Credit Suisse, where he was a vice-president also covering fixed-income corporate sales.

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