BNP Paribas AM presented the new chef of flexible and absolute returns and it turned to Jupiter for that matter.
Former Jupiter senior manager Mark Richards has been named head of flexible and absolute return within BNP Paribas Asset Management’s multi-asset, quantitative and solutions (MAQS) investment division.
Richards will be based in London and will be responsible for the performance of BNPP AM’s flexible and absolute return funds, as well as portfolio alignment with the investment committee.
He will also collaborate closely with MAQS’s other teams to exchange investment ideas, as well as contribute to the development of MAQS’s broader product range as it expands its innovative offering.
Richards will report to Maya Bandhari, global head of multi-asset at BNP, and will also contribute to the expansion of the broader MAQS product range, which manages €135 billion in assets.
“His addition to the team will be invaluable as we expand our multi-asset capabilities and continue to deliver sustainable returns to our investors in a difficult environment,” said Bhandari.
Richards joins BNP Paribas after working for Jupiter Asset Management for more than three years as a senior fund manager for the firm’s flexible and multi-asset strategies.
Prior to joining Jupiter, he worked as a buy-side strategist at JP Morgan Asset Management and PIMCO, as well as a sell-side strategist at Credit Suisse and ING. He began his career in 2004 as a UK economist at Lombard Odier.
Total return, target return, target volatility, thematic and income funds are among the firm’s flexible and absolute return offerings.
MAQS was founded in November 2017 and is one of the firm’s four investment groups, along with Private Debt & Real Assets, Fundamental Active Equities, and Fixed Income.
The MAQS division manages €135 billion in assets ($155.3 billion) on behalf of institutional and intermediary clients, with approximately €116 billion in multi-asset portfolios.
