Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Latest news
  3. BNP Paribas Securities Services wins Devon Funds mandate
Latest news
BNP Paribas Securities Services wins Devon Funds mandate
09 June 2011 Wellington
Reporter: Justin Lawson

Image: Shutterstock
BNP Paribas Securities Services has been selected to provide custody and fund administration services to Devon Funds Management (Devon), a New Zealand fund manager.

Devon, which specialises in Australian and New Zealand equities, appointed BNP Paribas with respect to the fund manager’s two new wholesale unit trusts, created to complement its rapidly growing product offering in New Zealand.

Speaking about BNP Paribas’ appointment, Mel Firmin of Devon Funds Management said: "We are pleased to have appointed BNP Paribas for back office services in New Zealand.

“Their strong global platform and local expertise in custody and fund administration for portfolio investment entities were critical factors in our decision. Also, the fact that they had an on the ground presence in New Zealand was important.”

Hugh Stevens, Head of BNP Paribas Securities Services New Zealand added: “We are delighted to have won this new business from Devon Funds Management, and see it as a demonstration of our commitment to the New Zealand market.

“Fund managers in New Zealand are currently facing unprecedented regulatory change coupled with increasing demand for systems and operational enhancements. We feel that we are ideally positioned to partner with and support them through this period of change, and in meeting increasingly sophisticated market reporting requirements.”
← Previous latest article

Lindata moves into Toronto
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today