But one banker unrelated to the hire said Park would work closely with BNP Paribas’ securitisation team. She was hired in the credit research team for administrative reasons: BNP Paribas did not have an open headcount for its securitisation team but had an opening in its research team headcount, according to the banker, who said such procedures were common practice. BNP Paribas’ securitisation team is currently four-people strong.
Separately, the bank said Albert Hofman, head of fixed income and credit research for Asia, has left for personal reasons. “Andrew Freris will assume temporary responsibility for credit research in addition to his responsibilities as chief economist for Asia-Pacific,” the BNP Paribas official said.