BNP Paribas Securities Services and Helaba Invest are jointly appointed to service Provinzial Asset Management GmbH’s range of funds, representing EUR 50 billion in assets.
Further to the recent merger between Provinzial Asset Management and the Provinzial Rhineland, Provinzial Asset Management now manages all the assets of the newly-formed Provinzial Group.
Provinzial Asset Management entrusted two long-standing partners to service its entire investment fund portfolio. BNP Paribas Securities Services, as global custodian, provides investment services throughout the investment process, while Helaba Invest, as a Master KVG (management company), assumes all asset servicing related to special assets.
BNP Paribas Securities Services and Helaba Invest have been jointly responsible for servicing the assets of the former Provinzial NordWest Asset Management GmbH since 2009. They will now service the assets and be responsible for Provinzial Asset Management’s operational processes, enabling Provinzial Asset Management to concentrate fully on its core business.
”After a careful selection process, we chose BNP Paribas Securities Services and Helaba Invest as service providers, because we were impressed with their performance and service throughout our many years of cooperation,” stresses Dr. Christoph Heidelbach, Chairman of the Management Board of Provincial Asset Management GmbH.
“BNP Paribas Securities Services enjoys the trust of more than 150 institutional investors in Germany,” says Thorsten Gommel, Head of BNP Paribas Securities Services Germany and Austria. “With our experience and know-how, we are ideally positioned to accompany Provinzial Asset Management through their integration process. With Helaba Invest as Master KVG, we have an excellent partner at our side.”
“This mandate has a high strategic importance for Helaba Invest and underlines our long-term positioning as the leading Master KVG,” explains Dr. Hans-Ulrich Templin, CEO of Helaba Invest. “Through our extensive experience, we will continue to support Provinzial Asset Management efficiently in implementing its asset management strategy. We have been working successfully with BNP Paribas Securities Services for 16 years. In this ecosystem, we can ensure high connectivity across all products, services and asset classes.”
Provinzial Asset Management has managed the assets of its customers since 2007. With headquarters in Muenster and Düsseldorf and a team of more than 50 employees, Provinzial Asset Management manages broadly diversified assets of more than EUR 50 billionfor the Provinzial Group and for external institutional customers in the future.
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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 local expertise in 36 countries and 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.
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