Berenberg chooses BNP Paribas as depositary bank and transfer agent in Germany and Luxembourg
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Berenberg chooses BNP Paribas as depositary bank and transfer agent in Germany and Luxembourg 11 June 2024 Germany Reporter: Klea Neza
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Berenberg has selected BNP Paribas as its depositary bank and transfer agent in Germany and Luxembourg, in addition to its existing multi-market custody relationship.
The mandate aims to further solidify Berenberg’s long-term partnership with BNP Paribas, which already includes local clearing, settlement, and custody services across multiple markets. It comprises Berenberg’s full fund range, with 18 UCITS in Luxembourg and 12 UCITS in Germany.
Sebastian Zimmermann, COO of Wealth and Asset Management at Berenberg, says: “We are grateful for the trust and support that BNP Paribas has shown us. The commitment and dedication during the partnership have played a great role in our achievements together, and we look forward to further cooperation and improvement of our processes.”
Bruno Campenon, head of the Financial Institutions and Corporates Client Line, Securities Services at BNP Paribas, states: “We are delighted to extend our partnership with Berenberg with this new mandate. We are committed to putting the combined strengths of our integrated product range and local expertise at the service of Berenberg’s growth strategy.”
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