BNP Paribas (BNPP.PA) has named Peter Foo, currently chief executive for Fortis Bank in Singapore, as a senior banker to oversee sovereign wealth funds, supranationals and central banks in Asia.

Foo will be responsible for business development with this client segment across fixed income, equities, alternative investments and strategic investments, as well as asset management and custody services.

BNP Paribas said the Asia-Pacific region represents half of the estimated US$10 trillion ($14 trillion) worldwide held by sovereign wealth funds.

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