News

BNPPSS wins Fineco mandate

BNP_Paribas_buildingBNP Paribas Securities Services (BNPPSS) has won a mandate to provide Dublin-based Fineco Asset Management with custody and depositary banking services.

As part of the mandate, BNPPSS will provide global custody, depositary banking, fund administration and transfer agency services as well as over the counter derivative valuation and passive currency overlay services.

Fabio Melisso, chief executive of Fineco Asset Management, said: “We are delighted with the collaboration that Fineco Asset Management has started with BNP Paribas Securities Services which began with a feasibility analysis and grew into the development of a fund creation process.

“The entire process was managed with an innovative approach and fast turnaround, enabling the launch of 40 funds in less than a year.”

Fineco Asset Management, wholly owned by FinecoBank, was created in May this year to manage assets through direct funds, funds of funds and through strategic partnerships with international managers on the market.

Paris-based BNPPSS currently has €9.5 trillion in assets under custody.

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