BNP Paribas has signed an agreement to acquire RBS International Securities Services (Holdings) Limited, a 70:30 joint venture between The Royal Bank of Scotland International and The Bank of New York.
RBS International Securities Services deals with securities-related services in the U.K. offshore markets of Jersey, Guernsey and the Isle of Man. It provides global custody services, fund administration and corporate trustee services to fund managers and to managers of private wealth clients. It holds in excess of 30 billion of assets under custody and 6.2 billion of assets under administration.
“As part of our global growth strategy and our commitment to servicing clients, RBS International Securities Services stood out as an attractive opportunity to reinforce our position in the buoyant UK offshore market, and further answer clients’ growing needs in this arena,” said Jacques-Philippe Marson, chief executive officer of BNP Paribas.