BNP Paribas secures Australian super fund 13 March 2015Sydney Reporter: Stephanie Palmer
Image: Shutterstock
BNP Paribas has been appointed custodian and administrator for Australian super fund First Super.
First Super is the industry super fund for timber, pulp, paper, furniture and joinery. It has about 69,000 members and more than 2.2 billion Australian dollars in funds under custody.
CEO of First Super Bill Watson said: “BNP’s suite of reporting, risk management and analytics will enable the trust to meet increasing regulatory demands, while providing its board and investment committee with enhanced reporting and risk management monitoring.”
“The BNP Paribas team understood our need to deal with an ever-changing regulatory landscape.”
Ian Perkins, acting head of BNP Paribas Securities Services in Australasia, added: “We are delighted to have been appointed by First Super after extensive due diligence. We look forward to providing them with world-leading custodial services, including investment performance reporting, risk analytics and online solutions.”
“We will also help First Super optimise operational processes including investment performance reporting, minimising risks through world-class analytics, enhancing performance returns for their members and providing online solutions - all through a single platform.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 