BNP Paribas Securities Services has settled its first client transactions in Poland and Hungary. Branches were opened in Warsaw and Budapest earlier this year and BNP Paribas Securities Services now offers broker-dealers, global custodians and investment banks a full local clearing, settlement and custody service in Poland and Hungary.
BNP Paribas Securities Service’s decision to open offices in Poland and Hungary reinforces the Bank’s European position and is another step in its ambition to cover the rapidly growing central and eastern European capital markets, offering clients the full range of securities services.
BNP Paribas Securities Service’s teams in Poland and Hungary combine local knowledge with global expertise. Heading operations in Warsaw is Andrzej Szadkowski who joined from Bank Millenium, a Polish bank, where he was head of the custody business. Andrzej has 14 years’ experience in custody and brokerage services. Theofilos Mitsakos has been appointed head of location in Budapest, transferring from BNP Paribas Securities Services Athens where he was deputy head of banking services. He has over ten years’ asset servicing experience.
BNP Paribas Securities Services is a general member of the central securities depository in 17 European markets. The Bank’s presence covers over 90% of Europe market capitalisation. This creates efficiencies in cash and asset servicing across Europe for clients.
Since 2006 BNP Paribas Securities Services has opened nine new offices around the world. The Bank is now present in 25 countries. An on-the-ground presence gives clients the benefit of direct market access, insight into local regulatory contact and market practices. This step demonstrates the Bank’s dynamism, innovative capabilities and its ambition of development worldwide.