BNP Paribas to provide DWS with fund administration services
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BNP Paribas to provide DWS with fund administration services 28 June 2018London Reporter: Maddie Saghir
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BNP Paribas securities services have entered an agreement to provide DWS with fund administration services.
In addition to providing fund administration services, BNP Paribas securities services will also provide DWS’s retail funds with depositary and custody services.
Upon completion of the transaction, BNP Paribas will become the fund administration service provider for DWS’s actively managed funds in Germany and Luxembourg.
The transactions are subject to approvals by the parties’ respective governing bodies and by regulatory authorities.
Patrick Colle, general manager of BNP Paribas securities services, said: “????????????????????We are delighted to partner with DWS on this important mandate, which will enable us to expand our franchise in Germany and Luxembourg and marks an important milestone in the development of our global funds business.”
John Eilbeck, COO at DWS, said: “Transferring services, such as fund administration, to outside vendors is part of an overall programme to improve the way we operate and service our clients in an efficient and high quality manner as we continue our measures to manage our cost base.”
Eilbeck continued: “We are confident that an agreement will be beneficial to all parties involved, including investors in our funds and colleagues in DWS.”
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