Derry Hubbard is understood to have resigned his position as global head of FIG and SSA syndicate at BNP Paribas to take up a similar role at Danske Bank in Copenhagen.

He had worked at BNP Paribas since 2005 and during his time at the French bank has been central to its covered bond franchise. He previously worked at ABN Amro.

Hubbard’s move is said to have been motivated by a desire for a change of lifestyle.

Damian Saunders will meanwhile continue handling covered bond syndicate at BNP Paribas, which is expected to cover Hubbard’s departure internally.