BNP Paribas Completes PFS Acquisition

BNP Paribas Securities Services has completed the acquisition of Prime Fund Services from Credit Suisse.

The deal takes BNP Paribas’ assets under administration to $237 billion.

Patrick Colle, general manager of BNP Paribas Securities Services, says: “This acquisition is a key step in the development of our global fund services business and puts us in a good position to support the convergence of traditional and alternative managers.

“Our clients will benefit from the combination of PFS’s best of breed technology platforms and fund administration expertise with BNP Paribas’ broad asset servicing offering and geographical reach.”