BNP Paribas’ Securities Services business, a leading global custodian with EUR 14.9 trillion in assets under custody[1], today announces its exclusive agreement with Banco Mediolanum to become the new depositary bank for Banco Mediolanum in Spain, representing a total volume of over EUR 4.7 billion of assets under depositary across 10 investment funds.
This alliance is part of Securities Services’ disciplined growth strategy in targeted markets across Europe and globally, consolidating its position as the go-to depositary banking services partner for leading financial institutions. This integration also reinforces BNP Paribas’ existing relationship with Mediolanum Group in Europe, including a range of securities services already provided in Ireland and Italy.
Banco Mediolanum, the Spanish entity of the Mediolanum Group, specialises in providing financial advice to retail clients throughout all stages of their life. Through this agreement, BNP Paribas’ Securities Services business has been appointed as the depositary bank of Banco Mediolanum’s Spanish investment vehicles.
The operational migration will be completed in due course. A collective joint effort between both parties and their client focus approach have been key factors in the success of the transaction.
Soledad Lecube, Head of Spain, Securities Services, BNP Paribas, commented: “Spain is a longstanding strategic European market for our Securities Services business, and we are committed to keep developing our local expert teams and product offerings. Banco Mediolanum and BNP Paribas share common values of operational excellence and a strong European presence. This integration is a testament to our ongoing efforts and commitment to the region.
“Being the top depositary bank for independent asset managers in Spain and the fourth leading provider of depositary banking services in the country, we look forward to growing alongside our clients and provide them with best-in-class services.”
[1] Source: Securities Services in numbers – Securities Services
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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 31 March 2025, Securities Services had USD 15.4 trillion in assets under custody, USD 2.9 trillion in assets under administration and 9,350 funds administered.
Banco Mediolanum (www.bancomediolanum.es)
Banco Mediolanum is the Spanish entity of the Mediolanum Group, a European banking group which carries out its personal financial advice and financial services through its Family Bankers network.
Mediolanum Group in Europe has more than 2,000,000 clients advised by more than 6,680 Family Banker® and total customer resources of more than €150 billion.
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