BNP Paribas Securities Services has completed the integration of Actiam’s middle and back office activities in the Netherlands.
The mandate from Actiam, a privately-owned Utrecht-based investment manager, represents €54.1 billion in assets under administration was announced in April 2017.
As part of the mandate, 54 staff members from Actiam’s operations teams have now transferred to BNP Paribas Securities Services.
In a statement, BNP Paribas said: “The onboarding required the migration of over 400 portfolios worth €54.1 billion, which are now administered by BNP Paribas Securities Services.”
The bank also implemented a global custody mandate from Actiam’s parent company Vivat, representing €27 billion in assets under custody.
Hans van Houwelingen, chief executive of Actiam, said: “By partnering with BNP Paribas Securities Services, we will be able to focus on our core business of responsible investing and on servicing our customers. Besides that, we can accelerate our international ambitions.”
©2017 funds europe