BNP Paribas launches UK trustee and depository service
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BNP Paribas launches UK trustee and depository service 30 January 2013London Reporter: Georgina Lavers
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BNP Paribas Securities Services has expanded its independent Trustee and Depository service out to the UK market, in light of the AIFMD. ??
James McAleenan, head of BNP Paribas Securities Services UK said: “The impact of AIFMD will be significant for UK fund managers, requiring implementation of new infrastructures, new distribution networks and for certain businesses new legal frameworks. This is not a simple process and with less than six months to go, poses serious challenges for our industry.
"This launch reinforces our continuous commitment to the UK market and is in line with our strategic objectives to support unit and investment trusts, as well as other Open Ended Investment Companies (OEICs) in the UK, which are both UCITS and non-UCITS compliant, particularly ahead of the AIFMD deadline.”
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