BNP Paribas and the master custody mandate 03 December 2010Paris Reporter: Justin Lawson
Image: Shutterstock
BNP Paribas Securities Services (BNP Paribas) has been mandated as master custody provider by three UK-based pension schemes of ATOS Origin with total assets under management of GBP 685 million.
ATOS Origin is a leading international IT services provider offering large multi-national clients integrated design as well as building and operating solutions in carefully targeted industry sectors. The mandate is an exciting milestone for BNP Paribas Securities Services’ UK business as it is the Bank’s first direct UK pension fund client.
Michel-Alain Proch, Group CFO of ATOS ORIGIN said: “The Trustee of our UK-based pension schemes went to market to find a service partner to provide custody solutions and I am glad to see that BNP Paribas represented the most convincing and comprehensive offer to suit their specific requirements. We are delighted that the Trustee has decided to be partnered with a financially robust company with the spread of solutions to address increased monitoring imperatives.”
James McAleenan, head of BNP Paribas Securities Services, UK, Middle East and South Africa commented: “We have been committed to the pension fund segment across Europe for many years and are delighted to have signed such a key name which is a first for us in the UK market. The ATOS Origin Trustee was impressed with the breadth of our offer within the BNP Paribas MasterSuite for Pension Funds offering, which is designed to help pension funds protect investments, evaluate portfolios, monitor risks and enhance return. The Mastersuite for Pension funds strategy seeks to build on our continually expanding range of securities services solutions worldwide to deliver global solutions geared to meet the specific needs of the pension fund market.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 