Richelieu Finance Gestion Privee, one of the major independent asset management companies in France, selected BNP Paribas Securities Services as depositary bank, transfer agent and fund administrator. BNP Paribas Securities Services will additionally provide middle-office functions, investment reporting, as well as performance measurement and analytics services. The migration, which was successfully finalized on September 25, 2006, represents more than 4.3 billion of assets under custody.
Richelieu Finance Gestion Privee decided to appoint BNP Paribas Securities Services on its quality of services, its comprehensive and flexible offer, as well as its robust expertise in assisting management companies. Richelieu Finance Gestion Privee can thus concentrate on its core business while leveraging and benefiting from BNP Paribas Securities Services technology investments.
Bernard Blaud, Head of Sales France of BNP Paribas Securities Services, comments: "We are very pleased with our partnership with Richelieu Finance Gestion Privee. We have built this privileged relationship on a mutual trust and common interest for solutions specifically adapted to the development of their activities in France and Europe. This mandate underlines our unique expertise in meeting the particular needs of major institutional investors."
Source: BNP Paribas
