UK Head of Sales, Alternatives

5 days ago

London, UK, United Kingdom BNP Paribas Full time
BNP Paribas is the European Union's leading bank and a key player in international banking. We operate in 65 countries and employ 190,000 people, including nearly 145,000 in Europe. Our Group holds key positions in its three main fields of activity: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking (CIB) for corporate and institutional clients.

Our Securities Services business, which forms part of CIB, is a leading global custodian providing specialist post-trade and asset servicing solutions to buy and sell-side market participants, corporates and issuers. Based in 35 locations around the world, our award-winning Securities Services teams have built one of the most extensive custody network in the industry, giving clients the connectivity and local knowledge they need to navigate change in a fast-changing world.

Company purpose:

Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.

Our employer promise is built around three pillars:

• Being a great place to work

• Committed to sustainability and having a positive impact

• Being dedicated to the development of our people

Business area

Securities Services specialises in the administration and protection of financial securities for institutional investors, financial intermediaries and major companies worldwide allowing our clients to focus on their core businesses, by managing all transactions linked to their investment cycle on their behalf. We operate in all asset classes: equities, bonds, mutual funds, investment funds, listed derivatives, OTC derivatives and cash - on markets worldwide with perfect mastery and familiarity of local regulatory restrictions and their tax and legal impacts. Our clients comprise of mutual fund managers, private assets and hedge funds managers, insurance companies, sovereign-wealth funds, pension funds, brokers and investment banks, commercial banks, major companies and issuers.

The Alternatives client segment is a key priority for BNP Paribas Securities Services and we are looking to continue driving growth through servicing Hedge Funds/Liquid Alternatives, Private Equity, Real Estate, and Credit.

Job purpose

The purpose of the role is lead the UK sales team for Alternatives i.e. Hedge Funds/Liquid Alternatives and Private Markets to secure new client's and generate profitable revenue streams to the BNP Paribas Securities Services business line, via the sale of the complete suite of its products and services.

A key focus of this position will be in addition to managing the Alternative Sales team, undertaking sales role responsibilities to win and deliver new revenue flows with Hedge Fund/Liquid Alternative opportunities, whilst also providing management oversight on the day to day Private Markets sales activity from the team.

The role is responsible for raising Securities Services' profile as a Tier 1 solutions provider to the Alternatives market in the UK, generating new client revenues to meet pre agreed sales targets. The main business revenue target for this role will encompass Hedge Fund/Liquid Alternatives firms across the jurisdiction and also cover key US players that have an office in the UK in coordination with the sales or relationship manager in the US.

Key responsibilities

Responsible for managing and building a pipeline of new business opportunities within the Hedge Fund/Liquid Alternatives client segment and for Private Markets provide oversight to:
  • Identify areas where BNP Paribas Securities Services could provide value-added and differentiating services to prospective clients ("prospects") and quantify opportunities, e.g. evaluate trend analysis, analyse current activity to identify and suggest opportunities, educate prospects on product usage, etc...
  • Develop a list of prospects in line with the client segment and regional strategy and agree with line management as appropriate
  • Regularly update client prospects, opportunities, calls and visits in the internal client management system
  • Responsible for the development and maintenance of a Hedge Fund/Liquid Alternatives sales plan (account plan) for each prospect
  • Analyse potential Securities Services profitability for prospects on a regular basis and suggest ways to gain and/or improve Securities Services wallet share
  • Responsible for understanding full offering of Securities Services products across locations to maximise sales potential
  • Proactively seek out and build a strong working relationship with the BNP Paribas Financial Institutions Coverage team, leveraging the Bankers to develop and create sales opportunities for Securities Services with names that do extensive business with the Bank
  • Develop connectivity within the BNP Paribas ecosystem on Alternatives (e.g. Capital Markets, Wealth Management, Asset Management) and promote the One Bank approach to targets and originate cross selling opportunities
  • Position BNP Paribas Securities Services ahead of RFPs and creating value propositions designed to differentiate BNP Paribas
  • Work with the SMEs, RFP team and management for input and support to deliver a quality and differentiating RFP responses and associated sales documents.
Responsible for ensuring maximum profitability is achieved from prospects and achieving pre-agreed new sales targets
  • Develop strong relationships and regularly network with prospects at senior levels, leverage Securities Services contacts to arrange meetings with the specific purpose of identifying new revenue opportunities for Securities Services and maintaining pipeline quality
  • Manage the Hedge Fund/Liquid Alternatives sales process end-to-end, responsible closing new business opportunities, ensuring completion of requests for proposals within deadlines, respecting internal deal management and risk procedures
  • Oversee the Private Markets sales process end-to end
  • Work internally with product management teams to propose creative solutions to prospects needs and to target maximum product penetration including cross border locations
  • Negotiate to maximise revenue and client profitability potential, ensuring agreed tariffs meet margin requirements
  • Responsible for sizing and validating all credit requirements for prospects
  • Coordinate with other members of the coverage team on joint bids
Responsible for a correct handover process at the closing phase for deals won
  • Ensure that a handover to the Relationship Manager is fully completed at the closing phase
Responsible for developing market relationships and sharing internally market and competitive information
  • Ensure regular and systematic updates on the UK Alternatives sales activity, business opportunities and risks are provided to the Securities Services global sales leads for Hedge Funds/Liquid Alternatives and Private Markets
  • Responsible for contributing to the UK and global sales strategy, working effectively with Securities Services sales teams in all locations
  • Develop, maintain and share knowledge on UK market, industry, competitive product offering and regulatory developments
  • Remain abreast of industry changes, regulations and market developments and anticipate their impact for prospective clients
  • Share market knowledge and actively participate within the global Alternatives community and wider BNP Paribas where appropriate (e.g. Senior Bankers)
Fully adhere to BNP Paribas Compliance, Financial Security (Know Your Customer "KYC", Anti-Money Laundering "AML", Anti-Bribery and Corruption "ABC" and Sanctions), Conduct & Risks policies

Market BNP Paribas Securities Services business lines brand
  • Raise the profile of Securities Services in the Alternatives segment in particular for Hedge Funds/Liquid Alternatives by participating at industry, media, panels and other events to represent the BNP Paribas brand and increase Securities Services visibility and network
Provide leadership, people management and oversight to the UK Alternatives Sales Team to ensure all appropriate frameworks are in place and deliverables met.

Requirements

Essential:
  • Strong demonstrable sales track record within the Alternatives markets, specifically with Hedge Funds/Liquid Alternatives
  • Proven extensive experience in the alternatives environment, with a focus on Hedge Fund sales gained from within the Securities Services or Prime Brokerage industries
  • Solid demonstrable experience in the securities services and Hedge Funds/Liquid Alternatives industry in client facing roles and the Alternatives industry in general
  • Strong Hedge Funds/Liquid Alternatives product knowledge and experience of analysing competitive advantage and identification of sales opportunities
  • Demonstrable business entrepreneurship and strong market reputation
  • Proven experience of managing a successful sales team
  • Excellent influencing and negotiation skills
  • Ability to demonstrate strong leadership skills and influencing of key global stakeholders.
  • A self-starter with organisation skills to define, lead and coordinate quality sales action plans
  • Expertise in leading and running complex deals, involving teams in multiple jurisdictions.
  • Ability to work effectively in a transversal, global and complex environment, with a strong team spirit
  • Ability to develop, network and partnership long lasting business relationships
And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank's strategy, commitment, work ethic, integrity and Code of Conduct).

A bit more about why you should join us

1. We're a great place to work

We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile)

We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:

• Generous holiday allowance of at least 26 days (plus bank holidays) - with option to buy and sell holidays.

• Valuable financial plans - a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.

• Extensive wellbeing and mental health offering - one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.

• Key onsite services and facilities in London - include physiotherapy, nutrition, massage therapy, physiology, mental health first aiders, seasonal flu vaccinations and free onsite fitness centre.

• Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.

* Subject to relevant caps

2. As the eurozone's largest bank, we are committed to having a positive impact in the world.

For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.

But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year - in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.

3. We believe in our people

We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.

We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.

Investing in our people also means we have a collaborative and inclusive culture:

• Direct feedback from our people shows that our internal culture sets us apart from our industry peers.

• Each year, nearly 30,000 employees globally are involved in professional networks that play an active role in promoting Diversity and Inclusion within the Group. These include our:

Pride Network, Ability Network (which supports disabled employees), MixCity (gender equality network), Women in Global Markets, Women in Global Banking, Women in IT, Diversity Equity & Inclusion in Technology, Early Careers Network, Multicultural Network and Parents & Carers Network.

Equal opportunities

BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to age, disability, gender reassignment, marriage or civil partnership status, pregnancy and maternity, race, religion or belief, sex or sexual orientation, or any other legally protected status.

Adjustments

We don't want anyone to be disadvantaged in our recruitment processes, so if you have a disability or health condition which may mean that you'd benefit from some adjustments or additional support, please let us know as early in the process as possible.

#LI-Hybrid

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