Huatai Financial picks BNP Paribas for custody services
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Huatai Financial picks BNP Paribas for custody services 15 October 2019Hong Kong Reporter: Jenna Lomax
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Huatai Financial Holdings has selected BNP Paribas Securities Services to provide its clearing, settlement and custody services.
As part of this mandate, BNP Paribas Securities Services will support Huatai Financial’s activity as a direct London Stock Exchange (LSE) member and will help Huatai Financial access international markets.
In June, Huatai Securities raised $1.69 billion through the sale of global depository receipts in London on the Shanghai segment of the LSE.
Philippe Kerdoncuff, head of BNP Paribas Securities Services, China, said: “We are delighted to support Huatai Securities and its subsidiaries in further strengthening its international business platform. It is another example of where BNP Paribas has been able to support an innovative client and its cross border ambitions.”
A spokesman for Huatai Financial, commented: “We selected BNP Paribas for its understanding and capability to support our international growth strategy. BNP Paribas’ expertise in both Shanghai and London, its relationships with the respective exchanges and understanding of the cross-border connect scheme, played a major part in our decision to partner with it. We are pleased to partner with one of the leading global custodians to support our international growth strategy.”
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