It was an expansion plan conceived several years ago by Jacques-Philippe Marson that helped grow BNP Paribas Securities Services into Europe’s largest custodian measured by third-party assets, just trailing Citigroup on the global stage.

Marson never got to execute his entire plan - he was removed from his post after flouting company rules a year ago. However, the strategy he put in place has been carried out and expanded upon by Patrick Colle, the new chief executive of BP2S, the French bank's name for its custody business, and the man who replaced him.