BNP Paribas Securities Services (BNP Paribas) has launched a global custody service in Switzerland. Based in the bank’s Zurich branch, the new service leverages the scale and product functionality of BNP Paribas’ existing global custody offering across Europe, adapted to the specific needs of the Swiss market.
BNP Paribas says that benefits for clients will include a comprehensive portfolio servicing solution provided ‘on-the-ground’ in Zurich, local client support functions, as well as a dedicated liquidity desk that offers a full suite of Swiss franc and foreign exchange services. Clients in Switzerland will also be able to access BNP Paribas’ international securities lending programme while meeting local regulatory requirements in terms of collateral management.
With operations and relationship management teams based locally in clients’ home markets, BNP Paribas aims to offer clients the benefits of proximity plus a unique understanding of the differing regulatory and investment environments across Europe.
“Switzerland is one of Europe’s major investor markets and we are delighted to extend our global custody capability to the Swiss market,” says Martin Kunz, the Product Head of Global Custody. “From speaking to clients, prospects and the consultant community, there is clear demand in Switzerland for a provider that has a true pan-European presence and who can deliver a global custody solution in multiple markets. This is particularly true for clients with local affiliates and entities across Europe and who need to meet local jurisdiction requirements but also seek a single and integrated global custody solution. We are perfectly placed to meet this need.”
“In just a few years we have successfully established a ‘Top Rated’ Swiss clearing and custody operation,” adds Garrick Smith, the Location Manager of BNP Paribas Securities Services in Switzerland. “The addition of global custody to our capabilities in Zurich is an exciting development and a strong sign of commitment to our Swiss clients and to the wider market.”