BNP Paribas Securities Services (BP2S), a subsidiary of BNP Paribas, the largest eurozone bank by market capitalisation and net income, has completed the acquisition of Cogent, a leading international investment operations business. The deal completes on time and has obtained all necessary regulatory approvals.
The transaction combines the funds services and custodian banking excellence of BP2S with the extensive investment operations outsourcing expertise of Cogent. The investment operations outsourcing platform in the UK represents a new market for BP2S´s International Investor Services (IIS) business. It also provides an additional platform for operations across Australasia. For Cogent, the deal means that it will be able to leverage the on-the-ground presence, client connectivity and operational capabilities of BP2S in established markets.
(source: BNP Paribas)