AIA Group appoints BNP Paribas for OTC 03 March 2016Shanghai Reporter: Stephanie Palmer
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BNP Paribas Securities Services has been selected to provide OTC derivatives operations to Asian life insurance company AIA Group.
BNP Paribas will provide trade management, collateral management and trade repository reporting for AIA in Hong Kong and Singapore.
Kong Siew Cheong, AIA’s regional director of investment management for operations, said: “We have been impressed with the expertise and regulatory knowledge demonstrated by BNP Paribas Securities Services in implementing the OTC derivatives service solution for us. Each of our locations has its unique operational and regulatory challenges and the team is able to partner with us to find flexible and effective solutions.”
“The quality of the support we receive through BNP Paribas’ global operating model is excellent, and the commitment and professionalism of the project team is highly commendable.”
Philippe Benoit, head of Asia Pacific at BNP Paribas Securities Services, said: “AIA is a leading insurer across Asia Pacific and we are delighted to be supporting such a high quality and forward-thinking business. We look forward to continuing the on-boarding process and partnering with them further in other service areas.”
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