BNP Paribas Securities Services picks FNZ for custody services
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BNP Paribas Securities Services picks FNZ for custody services 01 August 2022Global Reporter: Jenna Lomax
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Global wealth management platform FNZ has selected BNP Paribas Securities Services to provide its global custody, asset servicing and transactional services in Germany and other European markets.
As part of the mandate, FNZ will have access to BNP Paribas Securities Services’ broker-to-custody service, which offers integration between the bank’s execution and custody services.
The service allows clients to execute and settle trades with one single instruction for operational efficiency, lower settlement costs and reduced risk of settlement failure.
BNP Paribas Securities Services will also provide FNZ with regulatory reporting and stock borrowing services.
Thorsten Gommel, head of Germany, Austria, Netherlands and Nordics, at BNP Paribas Securities Services, says: "We look forward to supporting this market-leading business across Germany and Europe with innovative and efficient back-office solutions to help them achieve their growth ambitions."
Kai Friedrich, CEO of FNZ Germany, comments: “We look forward to working with BNP Paribas Securities Services. Their broker-to-custody offering means we will benefit from a range of fully-automated operational processes — from execution to settlement and custody — whilst providing our clients with seamless and highly-efficient access to multiple markets.
“Working together will help us enhance our direct access to markets, benefit from a highly-customised asset servicing model and further our mission of opening up wealth.”
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