BNP Paribas Securities Services is set to provide Fineco Asset Management with a range of custody and depositary banking services in Ireland.
As part of this mandate, BNP Paribas Securities Services will provide Fineco Asset Management with global custody, depositary banking, fund administration and transfer agency services as well as over-the-counter derivative valuation and passive currency overlay services.
Fineco Asset Management, wholly owned by FinecoBank, was established in May 2018 to manage assets through direct funds and funds of funds.
Stefano Catanzaro, general manager of BNP Paribas Securities Services Italy, said: "We are very proud to have partnered with Fineco Asset Management on their asset management expansion project in Ireland.”
He added: “Our local expertise in Ireland and Italy and flexibility in designing the right operating model have enabled us to win this prestigious mandate.”
Fabio Melisso, CEO of Fineco Asset Management, commented: “We are delighted with the collaboration that Fineco Asset Management has started with BNP Paribas Securities Services which began with a feasibility analysis and grew into the development of a fund creation process.”
He added: “The entire process was managed with an innovative approach and fast turnaround, enabling the launch of 40 funds in less than a year.”
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