After recently naming co-heads of wealth management for Asia-Pacific, the banking group now moves to a single CEO model, with one of the figures leaving the firm.

BNP Paribas Wealth Management has appointed Arnaud Tellier, who has been at the firm for almost three decades, as the chief executive of its business in Asia-Pacific.

The appointment comes as the co-CEO structure at the firm concludes, with the resignation of Andy Chai, recently appointed to the post.

Tellier, who had been co-CEO for Asia-Pacific with Chai, is taking on the CEO role with immediate effect and is based in Hong Kong.

Tellier will continue to oversee the strategic direction and operations of the franchise in Greater China, Southeast Asia and India. In terms of his reporting lines, Tellier will report hierarchically to co-CEO of BNP Paribas Wealth Management, Vincent Lecomte, and functionally to CEO Asia Pacific of BNP Paribas Group, Eric Raynaud.

As chairman, Mignonne Cheng will continue to bring her knowledge and experience to the position.

In a career spanning almost 30 years, Tellier has worked in corporate and investment banking, and wealth management. In October, he was named co-head for WM APAC with Chai.

Chai's future plans at this stage are not known.