Protección picks BNP Paribas for custody services 10 September 2019Bogotá Reporter: Jenna Lomax
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Protección S.A., a Colombian pension fund, has selected BNP Paribas Securities Services as its global custodian.
BNP Paribas described this is “a landmark mandate” for its securities services in the Hispanic Latin America market.
Since 2010, BNP Paribas Securities Services has expanded into the Americas, launching local custody and clearing in the US, Brazil, Colombia and Peru.
Jose Luis Escobar, COO of Protección S.A., commented: "We chose BNP Paribas as global custodian for our foreign assets because of its global network and ability to help us access overseas markets more efficiently.”
Claudia Calderon, head of Hispanic Latin America at BNP Paribas Securities Services, commented: "This is a prestigious new mandate which highlights the strengths of our offering in Hispanic Latin America. As a growing pension fund with an international outlook, Protección will benefit from our global and multi-local expertise around the world."
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