Sydney, 25 June 2012 – BNP Paribas Securities Services is pleased to announce that its domestic custody and settlement services for Australian and international clients are live, following a successful launch in May.
This is the latest in a series of service enhancements following BNP Paribas Securities Services being awarded an Australian banking licence in July 2011.
It establishes the Australia branch as the 23rd member of BNP Paribas’ proprietary global sub-custody network, and fully integrates Australia within the groups’ global systems and infrastructure.
Local custody and settlement services in Australia are currently being used by external clients via the BNP Paribas global custody network; that is foreign investors holding Australian assets. Additionally, the groups’ broker-dealer business unit, BNP Paribas Arbitrage, has chosen to use these services, with a further external bank client to be announced shortly.
Lawrence Au, Securities Services’ regional head of Asia-Pacific, commented “The addition of Australia to our global network gives BNP Paribas even greater strength in supporting our clients’ growth ambitions. It reinforces our commitment to provide clients with the benefits of our global expertise in a local context.”
Pierre Jond, managing director of BNP Paribas Securities Services Australia & New Zealand added, “This significant development also reflects our ongoing investment in the region. It allows us to leverage our presence as a local bank, adding local custody and settlement services to previously-launched capabilities such as listed derivatives clearing. It also opens up new services for groups like banks and broker-dealers.”
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About BNP Paribas
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.
About BNP Paribas Securities Services
BNP Paribas Securities Services (http://securities.bnpparibas.com/jahia/Jahia/site/portal), a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by a strong universal bank. It provides integrated solutions to all participants in the investment cycle including the buy side, sell side, corporates and issuers.
The bank has a local presence in 34 countries across five continents, effecting global coverage of more than 100 markets. It partners with clients to help overcome complexity, while offering a one-stop shop for all asset classes, both onshore and offshore, around the world.
Key figures as at 31 March 2012: USD 6,731 billion of assets under custody; USD 1,232 billion of assets under administration; more than 7,000 administered funds and 7,700 employees