Boudewijn Dierick of BNP Paribas is set to become deputy chair of the European Covered Bond Council, after having taken on the role in a temporary capacity following the departure of previous deputy Ralf Grossmann from Société Générale.

Dierick, who is head of flow ABS and covered bond structuring at BNP Paribas, has been nominated for the role by the ECBC steering committee after a meeting on Wednesday, with his appointment subject to endorsement by members.

Under the industry body’s conventions, the incoming deputy chair typically replaces the current chair at the end of the latter’s two-year term. NIBC’s Niek Allon is currently ECBC chair for the 2018-2019 term, after having stepped up early from being deputy in April 2017.

His appointment comes after Grossmann resigned the position upon leaving his post at SG.

Should he ultimately take over as chair, Dierick would become the first chair from the investment banking rather than issuer side of the market, although the BNP Paribas group issues out of France and Belgium.