BNP Paribas’ Securities Services business, a leading global custodian with USD $13.9 trillion in assets under custody,[1] has been chosen by The University of Sydney Endowment Fund to provide custody and fund administration Services.
Established in 1850, the University of Sydney is the oldest university in Australia and has been operating an Endowment Fund since 1997, with AUD $4.4 bilion[2] currently in Assets Under Management. The Endowment Fund operates a Long Term Fund, Medium Term Fund and a Short Term Fund and invests across a range of domestic and global asset classes, listed and unlisted, public and private.
The University of Sydney Endowment Fund sought a new provider following the withdrawal of National Asset Servicing (National Australia Bank’s custody arm) from the Australian market. Miles Collins, Chief Investment Officer – Investment and Capital Management, from the University of Sydney Endowment Fund says BNP Paribas’ Securities Services business was selected due to its positive cultural fit, the ability to form a long-term partnership and the expertise of its teams.
“When selecting a new custodian, our top priority was to choose a provider which enables us to create a long-term partnership, built on collaboration and trust. We look forward to growing our relationship over time to help deliver our sustainability and growth agenda”, says Miles Collins.
David Pember, Head of Sales and Relationship Management, Securities Services at BNP Paribas, commented: “We are delighted that the University of Sydney Endowment Fund has joined our client community and we look forward to working together to deliver on their strategic goals.”
[1]BNP Paribas Half Year Results, as of 30th June 2024, Securities Services in numbers (cib.bnpparibas)
[2]The University of Sydney Endowment Fund Annual Report, December 2023.
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About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates, and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 30 June 2024, Securities Services had USD $13.9 trillion in assets under custody, USD $2.8 trillion in assets under administration and 9,155 funds administered[1].
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BNP Paribas is a credit institution that is authorised to perform banking activities and investment services under the law applicable in France and is subject to prudential supervision on a consolidated basis by the European Central Bank, in cooperation with the Autorité de contrôle prudentiel et de résolution. As a public listed company and as an investment service provider, BNP Paribas is also in France under the supervision of the Autorité des marchés financiers. Its registered office address is 16 boulevard des Italiens, 75009 Paris, France, and its website is www.bnpparibas.com.
Services described in this document, if offered in Australia, are offered through BNP Paribas acting through its Australia Branch ABN 23 000 000 117 (“BNP Paribas”) and/or BNP Paribas Fund Services Australasia Pty Ltd ABN 71 002 655 674 (“BPFSA”). BNP Paribas is licensed in Australia as a foreign authorised deposit-taking institution by the Australian Prudential Regulation Authority and delivers financial services to clients under its Australian Securities & Investments Commission Australian Financial Services License (AFSL), No. 238043. BPFSA is an Australian-incorporated company which is a wholly owned subsidiary of BNP Paribas and delivers financial services to clients under its AFSL No. 241080. The Information is directed at wholesale clients only and is not intended for retail clients (as both terms are defined by the Corporations Act 2001, sections 761G and 761GA).
Services described in this document, if offered in Hong Kong, are offered through BNP Paribas acting through its Hong Kong Branch, which is registered as a Licensed Bank under the Banking Ordinance and regulated by the Hong Kong Monetary Authority. It is also a Registered Institution regulated by the Securities and Futures Commission for the conduct of Regulated Activity Types 1, 4, 6 and 9 under the Securities and Futures Ordinance. Furthermore, where the content relates to regulated products/ activities, the Information is directed at “professional investors” as defined in the Securities and Futures Ordinance.
Services described in this document, if offered in Singapore, are offered through BNP Paribas acting through its Singapore Branch, which is licensed by the Monetary Authority of Singapore under the Banking Act 1970 as a qualifying full bank. It is also a clearing member and depository agent of The Central Depository (Pte) Limited (CDP), a trading member of Singapore Exchange Derivatives Trading Limited (SGX-DT), and a clearing member of Singapore Exchange Derivatives Clearing Limited (SGX-DC). Singapore dollar deposits of non-bank depositors placed with the Singapore branch are insured up to $75k by the Singapore Deposit Insurance Corporation. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Services described in this document, if offered in New Zealand, are offered through BNP Paribas Fund Services Australasia Pty Ltd (“BPFSA”) acting through its New Zealand Branch, NZCO registration number 1010736. BPFSA is an Australian-incorporated company which is a wholly owned subsidiary of BNPP. BPFSA is registered under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. BPFSA is not licensed by a New Zealand regulator to provide financial services and BPFSA’s registration on the New Zealand register of financial service providers does not mean that BPFSA is subject to active regulation or oversight by a New Zealand regulator. NO BNP PARIBAS ENTITY IS A REGISTERED BANK IN NEW ZEALAND. The Information is intended for wholesale clients only, as such term is defined in the Financial Markets Conduct Act 2013.
Services described in this document, if offered in the People’s Republic of China (“PRC”, which for these purpose excludes the Hong Kong or Macau Special Administrative Regions or Taiwan), are offered through BNP Paribas China Limited (“BNPP China”), a subsidiary of BNP Paribas. BNPP China is a commercial bank regulated by the China Banking and Insurance Regulatory Commission. This document does not constitute an offer to sell or the solicitation of an offer to buy any financial products in the PRC to any person to whom it is unlawful to make the offer or solicitation in the PRC.BNPP China does not represent that this document may be lawfully distributed, or that any financial products mentioned herein may be lawfully offered, in compliance with any applicable registration or other requirements in the PRC, or pursuant to an exemption available thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular, no action has been taken by BNPP China which would permit a public offering of any financial product or distribution of this document in the PRC. Accordingly, no financial product mentioned herein may be offered or sold, directly or indirectly, and neither this document nor any advertisement or other offering material may be distributed or published in the PRC, except under circumstances that will result in compliance with any applicable laws and regulations. Services described in this document, if offered in India, are offered through BNP Paribas acting through its branches in India, which is registered as a Scheduled Commercial Bank and is regulated by Reserve Bank of India. It is also a registered custodian under the SEBI (Custodian of Securities) Regulations, 1996 and is regulated by the Securities and Exchange Board of India.