BNP Paribas Securities Services has been appointed by Dutch asset management firm ACTIAM as its service provider for middle and back office asset management operations.
As part of the mandate, which is still subject to closing conditions, ACTIAM’s operational team will join BNP Paribas Securities Services in the Netherlands and will also provide fund and investment accounting and reporting services.
According to a statement ACTIAM, which currently holds €56 billion in assets under management, selected BNP Paribas for its “international reach and track record as a leading multi-asset provider.”
“In this fast changing world, we decided to partner with a long-term asset servicing provider for middle and back office asset management operations, fund and investment accounting and reporting services,” said Hans van Houwelingen, CEO of ACTIAM.
“By partnering with BNP Paribas Securities Services, we will be able to focus on our core business of responsible investing and on servicing our customers. Besides that, we can accelerate our international ambitions.”
The move is the latest in a number of European mandates for BNP Paribas following its selection by MAPFRE Inversion and Italian banking group Banco di Desio e della Brianza to provide custody services earlier this year.
“This is an important move to accelerate our development in the Netherlands,” said Robert van Kerkhoff, head of BNP Paribas Securities Services in the Netherlands.
“By combining the high quality platform of ACTIAM with our global capacity, we believe we can bring a new approach to servicing the local institutional market.”