Uptevia, a joint venture owned equally by CACEIS and BNP Paribas, combining both banks’ issuer services divisions, was founded on 1 January 2023. Uptevia aims to be a leading specialist in issuer services in France and eventually across Europe.
The draft agreement between BNP Paribas’s Securities Services business and CACEIS, announced on 18 March 2022, received the approvals from the competition and regulatory authorities.
Uptevia offers issuers a wide range of services including shareholder recordkeeping (shares, bonds, warrants, etc.), organising and centralising general meetings, setting up and centralising financial operations, and managing employee shareholding plans. Uptevia will also provide equivalent services for fixed income products such as bonds and negotiable debt securities1.
The creation of Uptevia reflects the desire of BNP Paribas’s Securities Services business and CACEIS to develop a specialised, expanded and scalable service offering to serve corporate clients in France. Uptevia is based on a robust and agile architecture model and combines the expertise of both firms’ issuer service divisions.
Patrick Colle, Head of the Securities Services business of BNP Paribas, said: “We are delighted to announce the creation of Uptevia. With Uptevia, we aim to create a leading specialist in issuer services. Our corporate clients and their shareholders will benefit from pooled investments and an enhanced service offering underpinned by cutting-edge tech solutions.”
Jean-François Abadie, Chief Executive Officer of CACEIS, commented: “We are thrilled to go ahead with this bold project. Our two Groups have successfully joined forces to create Uptevia, a venture that will benefit employees and clients alike. They will be able to leverage the breadth of advantages offered by a strong player that is braced to tackle the challenges of this fast-changing business.”
This agreement covers the specialised sector of issuer services. It does not affect other BNP Paribas or CACEIS service offerings.
 BNP Paribas’s Securities Services business maintains its debt activities.
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About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas’s 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 September 2022, Securities Services had USD 11.01 trillion in assets under custody, USD 2.31 trillion in assets under administration and 9,302 funds administered.
Securities Services at BNP Paribas on Twitter – @BNPP2S
Securities Services at BNP Paribas on LinkedIn
About CACEIS (www.caceis.com)
CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €4.6 trillion and assets under administration of €2.4 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2021).
CACEIS on Twitter – @CACEIS
CACEIS on LinkedIn
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