24 May 2012 – BNP Paribas today launched its Cash Management business in Australia, making it the only Continental European bank with full transactional banking capability in the local market, and placing BNP Paribas as the ideal partner to the bank’s multinational clients operating in Australia and Australian corporates with a presence in international markets.
“With the launch of BNP Paribas’ Cash Management capability in Australia, clients are now able to integrate their international and domestic banking requirements within a single bank, helping them achieve efficiencies in their cash management processes,” says Fernando Pacheco, Head of Cash Management at BNP Paribas Australia and New Zealand.
With BNP Paribas’ local presence in the Australian market and with its international reach, BNP Paribas are able to provide a comprehensive suite of global and local solutions to its clients, a key differentiator to the domestic banks.
As the efficient management of liquidity becomes a key focus areas for corporates, BNP Paribas is well placed to serve their needs in this area through an e-banking platform that allows clients to have real time visibility and control of their business, in addition to a wide range of sophisticated liquidity solutions that allow for the concentration and investment of cash.
Pierre Veyres, BNP Paribas Global Head of Transaction Banking adds, “We bring deep experience in the global cash management business and this expansion in Australia is part of BNP Paribas’ strategy for Asia Pacific where we are investing in both talented professionals and innovative technology solutions.”
“We are now able to provide our clients in Australia with a complete ‘end to end’ working capital solution by connecting their cash management services together with our robust supply chain and trade finance capabilities.”
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About BNP Paribas
BNP Paribas is ranked #5 in cash management on a worldwide basis.**
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
BNP Paribas has been supporting the Australian economy since 1881 as the first major foreign bank in the country. Today, it works with leading organisations and financial institutions, providing strategic advice and solutions through its Corporate & Investment Banking and Investment Solutions business lines.
Today, BNP Paribas' Corporate & Investment Banking business in Australia is a specialist in structuring and distributing value-added financing solutions for its large corporate and financial institution clients, across the loan and debt capital markets and trade finance. It also provides Fixed Income products and services in the global interest rate, credit, currency and bond markets and Equity and Commodity Derivatives solutions.
BNP Paribas Investment Partners provides all asset management classes to the Australian and New Zealand markets through partnerships with major specialist investment managers. It has AUD 17.51 billion in Assets under Management and is the 19th largest fund manager in Australia (Morningstar, as at 30 September 2011).
BNP Paribas Securities Services is one of Australia's leading providers of investment administration and custody services. It is ranked the third largest custodian in Australia, with AUD 269 billion in assets under custody for Australia investors (ACSA, as at 31 Dec 2011).
.**Source: Euromoney 2011