BNP Paribas’ Securities Services business, a leading global custodian with USD 15.0 trillion in assets under custody[1], has been appointed by Insignia Financial, one of Australia’s pre-eminent wealth managers, to provide custody and administration services.
This strategic mandate with Insignia Financial, which holds AUD 319.6 billion funds under management and administration[2], further strengthens the position of BNP Paribas’ Securities Services business in the Australian market.
Insignia Financial, an ASX 200 company providing clients with superannuation, wrap platforms, financial advice and asset management, will benefit from the comprehensive suite of integrated solutions and multi-local expertise of BNP Paribas’ Securities Services business, together with the financial strength of the BNP Paribas Group.
The service offer will cover Insignia Financial’s MLC and OnePath businesses, with the transitions to be finalised in 2025.
Kirk Newey, General Manager, Fund Accounting and Operations, Insignia Financial, commented: “As part of Insignia Financial’s simplification strategy, we undertook a review of our custody and related services arrangements.
“Following an extensive tender process, we chose BNP Paribas’ Securities Services business. We look forward to working with BNP Paribas to deliver improved efficiencies and scale benefits to our members.”
Patrick Colle, Head of Securities Services and Chairman of Financial Institutions Coverage, BNP Paribas, stated: “It is a great pride for us to support Insignia Financial in its long-term scalability strategy. We are determined to put the full strengths of our integrated model, on-the-ground expertise, and digital leadership at the service of Insignia Financial’s ambitions for growth.”
[1] As of 30 September 2024. Source: BNP Paribas’ Securities Services website
[2] As of 30 September 2024. Source: Insignia Financial website
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Media Contacts
Securities Services at BNP Paribas
Vivian Lai, Global Media Relations and External Communications Manager
vivian.lai@uk.bnpparibas.com
+44 (0) 7350 433 306
Insignia Financial
Natalie Hasapaki, Manager, Corporate Affairs
natalie.hasapaki@insigniafinancial.com.au
+61 404 921 041
Securities Services at BNP Paribas on LinkedIn
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 September 2024, Securities Services had USD 15.0 trillion in assets under custody, USD 3.0 trillion in assets under administration and 9,197 funds administered.
About Insignia Financial (https://www.insigniafinancial.com.au/)
With origins dating back to 1846, today Insignia Financial is a leading Australian wealth manager. Insignia Financial provides financial advice, superannuation, wrap platforms and asset management services to members, financial advisers and corporate employers.
The information contained within this document (‘information’) is believed to be reliable but BNP Paribas does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas’ judgment and are subject to change without notice. BNP Paribas and its subsidiaries shall not be liable for any errors, omissions or opinions contained within this document. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For the avoidance of doubt, any information contained within this document will not form an agreement between parties. Additional information is available on request.
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 (ECB), in cooperation with the Autorité de Contrôle Prudentiel et de Résolution (ACPR). 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 (AMF). Its registered office address is 16 boulevard des Italiens, 75009 Paris, France, and its website is https://group.bnpparibas.
BNP Paribas is authorised and regulated by the European Central Bank (ECB) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR). BNP Paribas is authorised by the Prudential Regulation Authority (PRA) and is subject to regulation by the Financial Conduct Authority (FCA) and limited regulation by the Prudential Regulation Authority (PRA). Details about the extent of our regulation by the Prudential Regulation Authority (PRA) are available from us on request. BNP Paribas London Branch is registered in the UK under number FC13447. UK establishment number: BR000170. UK establishment office address: 10 Harewood Avenue, London NW1 6AA.
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 (SEC) and a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA); or if a futures product through BNP Paribas Securities Corp., a Futures Commission Merchant registered with the Commodities Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).
In accordance with the General Data Protection Regulation (GDPR), European Regulation no. 2016-679, depending on the nature of the processing of the personal data concerned, you have a right of access, rectification and erasure of your personal data together with the right to restrict or object to the processing of such data. For more information on the General Data Protection Regulation (GDPR), details regarding processing purposes, and data retention principles, as well as your rights in relation to the processing of your personal data by BNP Paribas SA, in the context of Securities Services activities, please refer to our data protection notice: https://cib.bnpparibas/data-protection-notice/.