Brazilian financial services company, Itau Unibanco S.A. has selected BNP Paribas Securities Services to provide local custody and settlement services for its assets in the Colombian market.
Headquartered in São Paulo, Brazil, Itau Unibanco S.A was formed through the merger of Banco Itaú and Unibanco in 2008.
Itau Unibanco will benefit from BNP Paribas Securities Services’ bespoke solutions and client support team, with the global backing of the BNP Paribas Group.
The news follows BNP Paribas’s end-of-year report which showed that 2021 was a year of strong growth for its assets under custody and assets under administration, as well as its wider securities services.
BNP Paribas saw a 15.1 per cent increase in assets under custody, reporting a total of €12.6 trillion at the end of 2021, compared to 2020’s end-of-year results.
Commenting on the Itau Unibanco S.A. mandate, Claudia Calderon, head of BNP Paribas Securities Services for Hispanic Latin American, says: “We are very pleased to welcome Itau Unibanco S.A. as a client in the Colombian market, further expanding our fruitful and longstanding relationship with them in other regions.”
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