BNP Paribas Securities Services Onboards Nikko Asset Management

BNP Paribas Securities Services has migrated the back office of Nikko Asset Management across Asia Pacific.

BNP Paribas was appointed by Nikko in October 2011 to provide middle and back office services, custody and fund administration for its business in Asia as well as for Tyndall Investment Management, its subsidiary based in Australia and New Zealand.

The on-boarding project saw Tyndall New Zealand’s middle and back office systems were migrated to the BNP Paribas platform in the first phase, followed by Tyndall Australia and then Nikko AM Asia in Singapore in the second and third.

The migration was a regional project with planning, coordination and implementation by BNP Paribas’ specialist teams in Singapore, Sydney and Wellington, as well as global resources in Paris, London, Luxembourg, Glasgow and Chennai.

Frederick Reidenbach, chief operating officer & chief financial officer of Nikko AM, commented: “We decided to appoint BNP Paribas as a services provider to centralize the middle and back office systems in Asia-Pacific on one unified platform. Together, we successfully completed the migration program and can see the business efficiencies it delivers. We are very happy with our choice of partner and welcome their support for our growth plans across the Asia-Pacific region.”