EUROPE - BNP Paribas has named Credit Agricole's Christian Dargnat as its new chief investment officer.

He takes over from Philippe Lespinard, who has become deputy chief executive at BNP Paribas' fixed income affiliate Fischer Francis Trees & Watts. Lespinard joined in 2002.

Dargnat, 40, will be based in Paris and report to BNPP AM chairman Gilles Glicenstein.

The firm said: "He has overall responsibility for and approves the definition of BNPP AM's investment policy and, together with all the asset management heads, ensures the smooth and efficient functioning of the business, based on the concerted efforts of the teams."   

Glicenstein said Dargnat's roles will be to encourage interaction between teams and strengthen the synergies between investment teams and sales.

He was formerly head of equity management, balanced management and convertible bond and arbitrage products at Crédit Agricole Asset Management.