Chris Stalley has been appointed chief executive of BNP Paribas 3 Step IT, with the responsibility to open branches across Europe and build it into a multi-million dollar business.

He was responsible for business development at 3 step IT where he helped grow international sales, developed a network of partnerships and conceived the idea of a joint venture with BNP Paribas.

BNP Paribas 3 Step IT launched their joint venture earlier this month in Europe, with existing BNP Paribas LS’ branches in France and Italy to operate under the new title.

Nine more countries are to follow by mid-2020, with the new entity offering a more sustainable way to manage technology life-cycles by delivering a service based on circular economy principles.

The service anticipates the needs of companies looking for more flexible and sustainable “product as a service” financing solution.

The platform provides a complete service to companies to help them manage technology investments, primarily smartphones, tablets, PCs and laptops.

Charlotte Dennery, chief executive of BNP Paribas LS said: “Since we announced this joint venture, many international companies have wanted to learn more. The life-cycle management service meets their business needs, and aligns with their values in terms of responsibility.

She added: “Becoming more sustainable is increasingly a competitive differentiator, and a consideration for clients, partners and investors. As well as serving clients’ broader needs, this alliance is in perfect sync with the BNP Paribas Group strategy to support circular economy initiatives.”

It adds value at all points in the life-cycle by monitoring and managing equipment in use and return of the equipment at the end of use.

This approach aims to help clients improve their IT service level with up to date equipment and provide IT devices at a lower cost. IT is also run in a more sustainable way because devices are refurbished as opposed to being dumped.

Some 97% of returned devices are refurbished for re-use with less than 3% being recycled. In extending the life of equipment, it displaces the manufacture of new products spreading carbon footprint across two users.

Carmen Ene, CEO of 3stepIT, said of the venture: “We are delighted to take our solution across Europe. BNP Paribas 3 Step IT will offer a more sustainable approach to using technology, on a large international scale – a breakthrough for a circular economy business model, and a response to our customers’ demands for a global service.”