BNP Paribas Securities Services today announced that it has been appointed by Canada’s Alberta Investment Management Corporation (AIMCo) to provide custody, clearing and settlement services for their recent investment into India.
AIMCo is among a number of international investors to commit to India’s first renewable energy infrastructure investment trust, Virescent Renewable Energy Trust (VRET).
The mandate will see BNP Paribas Securities Services support AIMCo’s ability to access the fast-growing Indian market through a comprehensive range of local custody, clearing and settlement solutions, foreign exchange and banking services.
AIMCo is one of Canada’s largest institutional investment managers with USD 118 billion assets under management and responsible for the investments of pension, endowment and government funds in Alberta.[1]
Akshay Thakurdesai, Head of BNP Paribas Securities Services India, said: “AIMCo was looking for a banking partner who could help them to capture growth opportunities in India easily and efficiently. This mandate highlights our expertise in providing a comprehensive banking service that combines market connectivity with local knowledge.’
BNP Paribas Securities Services is a multi-asset servicing specialist with a global reach covering 90+ markets. BNP Paribas Securities Services provides a comprehensive suite of services for asset managers’ expansion into new markets, including solutions for private and public funds, traditional and alternative strategies, as well as support for cross-border fund passporting schemes.
As of 30 September 2021, BNP Paribas Securities Services had USD 14.22 trillion in assets under custody, USD 2.84 trillion in assets under administration and 9,284 funds administered.[2]
[1] See https://www.aimco.ca/who-we-are/at-a-glance
2 Data from BNP Paribas Securities Services website: https://securities.cib.bnpparibas/who-we-are/bnp-paribas-securities-services-in-numbers/
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About BNP Paribas Securities Services (securities.cib.bnpparibas)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
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BNP Paribas Securities Services is incorporated in France as a Partnership Limited by Shares and is authorised and supervised by the European Central Bank (ECB), the ACPR (Autorité de Contrôle Prudentiel et de Résolution) and the AMF (Autorité des Marchés Financiers).
In the UK, BNP Paribas Securities Services is authorised and regulated by the European Central Bank and the Autorité de Contrôle Prudentiel et de Résolution. Deemed authorised by the Prudential Regulation Authority and with deemed variation of permission. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. BNP Paribas Securities Services London Branch is registered in the UK under number FC023666. UK establishment number: BR006393. UK establishment office address: 10 Harewood Avenue, London NW1 6AA.
In the U.S., BNP Paribas Securities Services is a business line of BNP Paribas which is incorporated in France with limited liability. Services provided under this business line, including the services described in this document, if offered in the U.S., are offered through BNP Paribas acting through its New York Branch (which is duly authorised and licensed by the State of New York Department of Financial Services) or BNP Paribas Financial Services LLC, a limited liability company organised under the laws of the State of Delaware; if a securities product, through BNP Paribas Securities Corp. which is a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC and the Financial Industry Regulatory Authority; or if a futures product through BNP Paribas Securities Corp., a Futures Commission Merchant registered with the Commodities Futures Trading Commission and a member of the National Futures Association.