BNP Paribas bolsters proprietary network with local custody services in Chile
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BNP Paribas bolsters proprietary network with local custody services in Chile 04 May 2021Chile Reporter: Maddie Saghir
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BNP Paribas Securities Services has expanded its proprietary network to 27 markets with the launch of local custody services in Chile.
The move enables BNP Paribas Securities Services to provide international and regional investors with access to the Chilean market and adds to the bank’s presence in Latin America.
BNP Paribas currently offers local custody services in Brazil, Colombia and Peru.
As part of the launch, BNP Paribas Securities Services has become a direct participant in the Chilean central securities depository, Depósito Central de Valores, which will act as a tax agent in accordance with Chilean regulations.
BNP Paribas Securities Services’ offering in Chile includes settlement, safekeeping, corporate actions, proxy voting, cash management and foreign exchange, as well as all regulatory reporting.
Claudia Calderón, head of BNP Paribas Securities Services in Hispanic Latin America, says: “We are very pleased to be able to offer our broad portfolio of local custody services in Chile.”
“Opening a new market is further proof of BNP Paribas's commitment to the Latin America region. Our operating model, which has already proven successful in other countries in the region, offers a wide range of opportunities to non-resident investors in Chile.”
Javier Jara, legal and corporate issues managers, at Depósito Central de Valores, adds: “As a custodian in the local market, we are very pleased with our new tax agent service for foreign investors, which allows us to make Chile an even more attractive market for all investors.”
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