BNP Paribas wins €44bn custody mandate

BNP Paribas Securities Services (BNPPSS) has won a €44 billion custody and depositary mandate from the French asset management firm Carmignac.

Under the mandate, BNPPSS will provide Carmignac with global custody, depositary banking and transfer agent services covering its entire range of French fund products.

The previous provider was Caceis, the asset servicing bank owned by Credit Agricole.

A statement released by BNPPSS said it had been selected because of its “international reach, its global and multi-local expertise covering all asset classes, and its technology-driven approach to asset servicing”.

The mandate expands a long-standing relationship between Carmignac and BNPPSS, which already provides custody and depositary services to the “Carmignac Portfolio” fund range in Luxembourg.

BNPPSS had €9.4 trillion in assets under custody at the end of 2017, up 9.4% compared to 2016.

©2018 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST