Belgian AG Insurance seeks custody with BNP Paribas
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Belgian AG Insurance seeks custody with BNP Paribas 20 February 2013Belgium Reporter: Georgina Lavers
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BNP Paribas Securities Services has been mandated by AG Insurance in Belgium as one of its two global custodians for the assets underlying its insurance products.
AG Insurance, Belgium’s largest insurance company, mandated BNP Paribas to provide a range of services including custody and settlement.
Antonio Cano, chief executive officer of AG Insurance commented: “We chose to work with BNP Paribas because of its strong global custody offering and broad market coverage. The migration of our assets, which took place at the end of 2012, went very smoothly and is now completed. This has given us full confidence that our portfolio is in the safe and capable hands of a solid company with a proven track record and long standing experience.”
Renaud Vandenplas, head of BNP Paribas Securities Services Belgium said: “Winning a prestigious client such as AG Insurance makes us very proud, and we look forward to working in partnership with their teams. This mandate represents a key milestone for us in Belgium and it is in line with our strategic objective to maintain our position as leading global custodian in this market.”
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