Stephanie Lair is leaving the French lender BNP Paribas, a spokesperson confirmed. The move comes as a shock for many, as Lair was considered an integral part of the bank's senior leadership team.

For several years, she was head of structured products for the wealth management division before assuming leadership of the bank's operations in Singapore, Indonesia Malaysia based out of Singapore.

Lair relocated to Paris in 2016 to spearhead human resources for the private bank, overseeing massive push to hire senior private bankers in Asia, a market she knew well. Sources close to the development indicate Lair is headed for a senior position at a rival private bank.  More to follow.