BNP Paribas said on Monday its corporate and investment banking group unveiled an official institutions coverage team for the Americas that will be headed by Timothy Bitsberger, a former U.S. Treasury Department official and treasurer of housing giant Freddie Mac.
Bitsberger joins BNP Paribas as managing director. He will create and lead the official institutions coverage team for the Americas in New York. Bitsberger will focus on the global needs of central banks, sovereign wealth funds, government agencies, government sponsored enterprises, and supranationals.
Bitsberger reports to Veronique Ormezzano, head of official institutions coverage in Paris, and to Joe Malley, head of North American financial institutions group in New York.
Bitsberger served as the treasurer of Freddie Mac from 2006 until 2008. Prior to this, he worked at the U.S. Department of the Treasury from 2001 to 2005, first as deputy assistant secretary and then as the assistant secretary for financial markets. At the Treasury Department he was involved with its expansion of its TIPS program, a new auction system and the reintroduction of the 30-year bond.
Additionally, BNP said Mike Albanese joined as a managing director in its financial institutions group reporting to Malley. He will cover insurers and reinsurers.
Albanese joins BNP Paribas from Swiss Re where he was head of business development for the Americas. Previously, he held senior level positions at both Deutsche Bank and AM Best Co.