BNP Paribas SS to provide custody for La Française AM
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BNP Paribas SS to provide custody for La Française AM 17 April 2012Paris Reporter: Georgina Lavers
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BNP Paribas Securities Services will provide depositary, custody, transfer agent and valuation services to asset manager La Française AM, which is working to expand globally.
The scope of the mandate includes the respective management activities of La Française des Placements, LFP Sarasin AM, La Française Real Estate Managers and La Française AM International, the manager’s Luxembourg subsidiary. It may also be extended to certain other group holdings as required.
Xavier Lépine, chairman of La Française AM said: “BNP Paribas Securities Services and its 34 locations across the globe was the international partner we were looking for to accompany us in our development. Its local market, tax and regulatory expertise will be instrumental in the distribution of our funds abroad.”
Gilliane Philip Courtines, head of relationship management, institutional clients in France at BNP Paribas Securities Services, added: “We have worked closely with La Française AM for several years and are delighted with this new vote of confidence which extends our mandate. Our partnership has an increasingly global focus and we have adapted our governance to meet the new challenges that lie ahead.”
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