Fondenergia selects BNP Paribas for depositary bank services
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Fondenergia selects BNP Paribas for depositary bank services 09 April 2024Italy Reporter: Jack McRae
Image: stock.adobe.com/Luciano Mortula-LGM
BNP Paribas’ Securities Services business has been selected by Fondenergia to provide depositary bank and securities lending services for its global assets.
The Italy-based pension fund for workers in the energy sector will have access to BNP Paribas’ approach to technology and global operating model, as well as proxy voting and securities lending.
Andrea Fiordelmondo, president of Fondenergia, comments: “BNP Paribas’ Securities Services business’ support will help us enhance the efficiency of our processes and reinforce the safety of our assets, while increasing the profitability of the fund through securities lending services.”
Andrea Cattaneo, head of Italy, Switzerland and Iberia for Securities Services at BNP Paribas, adds: “We are delighted to start this mandate with Fondenergia, a leading player in the Italian pension funds sector.”
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Image: stock.adobe.com/Luciano Mortula-LGM 