To create and lead the Official Institutions Coverage, the French banking group has appointed Tim Bitsberger as a managing director.

Based in New York, Bitsberger focus will be to serve the global needs of central banks, sovereign wealth funds, government agencies, government sponsored enterprises, and supranationals.

Bitsberger will report 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 will join BNP Paribas after serving in a number of private sector and government appointed roles. He served as the treasurer of Freddie Mac from 2006-2008.

Prior to this, he worked at the US Department of the Treasury from 2001 to 2005, first as deputy assistant secretary and then as the assistant secretary for financial markets.

Previous to his treasury roles, he worked on Wall Street for over 15 years, primarily as a trading manager and fixed-income and derivative trader.

The bank said Mike Albanese will join as a managing director in the Financial Institutions Group reporting to Joe Malley, covering insurers and reinsurers.

Albanese will join BNP Paribas from Swiss Re where he was head of business development for the Americas. Prior, he held senior level positions at both Deutsche Bank and AM Best Company.

Albanese has 25 years of experience in the market as an advisor to insurers on corporate finance, capital management and structured finance matters.

The Financial Institutions Group is focused on serving the long-term, multinational financing, advisory and risk management needs of banks and insurers. The platform includes a full spectrum of debt, equity and risk management products as well as traditional financing.

Ormezzano said that Official Institutions throughout the world play a major role promoting domestic and international financial stability and market confidence.

"BNP Paribas is well positioned to support their increased needs through its active engagement with Official Institutions worldwide and its expanded capabilities in the Americas," Ormezzano said.