BNP Paribas Securities Services and Helaba Invest are jointly appointed to service Provinzial Asset Management’s range of funds, representing €50 billion in assets.
As part of this mandate to service Provinzial Asset Management’s entire investment fund portfolio, BNP Paribas Securities Services, as the global custodian, will provide investment services throughout the investment process.
Meanwhile, Helaba Invest, as a Master KVG (management company), assumes all asset servicing related to special assets.
The mandate follows the recent merger between Provinzial Asset Management and the Provinzial Rhineland. Provinzial Asset Management now manages all the assets of the newly-formed Provinzial Group.
BNP Paribas Securities Services and Helaba Invest have been jointly responsible for servicing the assets of the former Provinzial NordWest Asset Management GmbH since 2009.
They will now service the assets and be responsible for Provinzial Asset Management’s operational processes, enabling Provinzial Asset Management to concentrate fully on its core business.
"After a careful selection process, we chose BNP Paribas Securities Services and Helaba Invest as service providers, because we were impressed with their performance and service throughout our many years of cooperation," stresses Christoph Heidelbach, chairman of the management board of Provinzial Asset Management.?
Thorsten Gommel, head of BNP Paribas Securities Services Germany and Austria, comments: "With our experience and know-how, we are ideally positioned to accompany Provinzial Asset Management through their integration process. With Helaba Invest as Master KVG, we have an excellent partner at our side."
Hans-Ulrich Templin, CEO of Helaba Invest, adds: "Through our extensive experience, we will continue to support Provinzial Asset Management efficiently in implementing its asset management strategy. We have been working successfully with BNP Paribas Securities Services for 16 years. In this ecosystem, we can ensure high connectivity across all products, services and asset classes.”
Provinzial Asset Management has managed the assets of its customers since 2007. With headquarters in Muenster and Düsseldorf and a team of more than 50 employees, Provinzial Asset Management manages broadly diversified assets of more than €50 billion for the Provinzial Group and for external institutional customers in the future.
BNP Paribas Securities Services was also recently appointed to provide fund services for Harvest Global Investments’ new CSI 300 environmental, social and governance Leaders Index exchange-traded fund.
