BNP Paribas sets up custody shop in Colombia 16 September 2013Bogota Reporter: Jenna Jones
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BNP Paribas Securities Services has become a local custodian in Colombia.
The firm has also secured an operating license from the Superintendencia Financiera de Colombia, the Latin American nation’s financial supervisor.
The move will allow BNP Paribas to provide post-trade services to international banks and investors wishing to invest in Colombia, while supporting the international expansion of banks, brokers and institutional investors based in Colombia and other fast-growing Latin American countries.
The firm is also aiming to take advantage of a recently introduced law in Colombia requiring all local investors to appoint a local custodian.
Claudia Calderón, head of BNP Paribas Securities Services in, said: “This launch is an important milestone in our commitment to helping our clients understand the landscapes of, and maximise their investment opportunities in, their most important destination markets.”
“It also opens up the possibility for us to help locally based investors tap the global financial markets via our global custody network and multi-market expertise.”
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