BNP Paribas Securities Services has been mandated by global wealth management platform FNZ to provide global custody, asset servicing and transactional services in Germany and other European markets.
As part of this mandate, FNZ will benefit from BNP Paribas Securities Services’ Broker-to-Custody service, which offers seamless integration between the bank’s execution and custody services. This allows clients to execute and settle trades seamlessly with one single instruction for greater operational efficiency, lower settlement costs and reduced risk of settlement failure.
BNP Paribas Securities Services will also provide FNZ with additional services including regulatory reporting and stock borrowing.
Thorsten Gommel, Head of Germany, Austria, Netherlands and Nordics, at BNP Paribas Securities Services, said: “I am delighted that FNZ has selected us to safekeep their assets and to help them further automate their operations with our Broker-to-Custody platform. We look forward to supporting this market-leading business across Germany and Europe with innovative and efficient back office solutions to help them achieve their growth ambitions.”
Kai Friedrich, CEO of FNZ Germany, added: “We look forward to working with BNP Paribas Securities Services. Their Broker-to-Custody offering means we will benefit from a range of fully-automated operational processes – from execution to settlement and custody – whilst providing our clients with seamless and highly-efficient access to multiple markets. “Working together will help us enhance our direct access to markets, benefit from a highly-customised asset servicing model and further our mission of opening up wealth.”
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
The information contained within this document (‘information’) is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas Securities Services’ judgment and are subject to change without notice. BNP Paribas Securities Services 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 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 anticipation of the intragroup merger of BNP Paribas Securities Services with its parent company BNP Paribas SA, BNP Paribas Securities Services’ banking licence is being withdrawn. The licence remains fully in force until the effective date of the merger, on 1 October 2022.
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. In anticipation of the intragroup merger of BNP Paribas Securities Services with its parent company BNP Paribas SA, BNP Paribas Securities Services has applied to cancel its UK authorisation. 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.