BNPP SS and Northern Trust win custody mandates

mandate_410Standard Bank, South Africa’s largest bank, has appointed BNP Paribas Securities Services as its custodian in the UK and Switzerland. The African bank plans to develop and growth its cash equity business in Europe. Steve Harris, head of equity operations, Standard Bank, said: "The partnership with BNP Paribas Securities Services will help develop and grow Standard Bank's cash equity business in Europe.  In other mandate news, the National Trust, a charity, appointed Northern Trust to provide global custody and other related services for its £881m in assets. Paul Maguire, assistant director, treasury & fund management at the National Trust, said: "We appointed Northern Trust, following a competitive tender. We needed a provider who could not only support our asset servicing requirements, but one who had experience in our sector and could provide a high level of client service, supporting our changing requirements as we continue to evolve." ©2010 funds europe

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