BNP Paribas Hires Peter Zink Secher to Lead ESG Ratings Europe
BNP Paribas has launched a new advisory unit on ESG issues in Europe, joining a range of investment banks looking to capitalise on the shift towards a more sustainable economy.
The French bank has hired Peter Zink Secher as head of ESG ratings advisory in Europe, the Middle East, and Africa, it said in a statement. The role is newly created, and Zink Secher joins BNP Paribas from Danish financial services firm Nykredit.
He will report to Joe Weaver, the bank's head of credit and ESG ratings in London, and Ulrik Ross, chief executive of BNP Paribas in Denmark.
Investment banks have increasingly rolled out new advisory teams to focus on the clean energy transition, which is expected to require trillions in capital and will be a lucrative new source of fees for dealmakers.
Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan, and UBS, among others, have hired teams of senior dealmakers to focus on ESG-related deals over the past two years.
In a statement, Zink Secher said that the new ESG advisory rating service at BNP Paribas would be a “‘what if’ analysis that predicts what specific sustainability actions, disclosures and controversies... will influence a company’s ESG rating”.
Source: Financial News
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