The ARAG group, the global insurance company, has appointed BNP Paribas Securities Services Germany as global custodian and depotbank for its complete porfolio of 1.7 billion (including direct investments and funds). The previous custodian was HSBC Trinkaus.
According to a statement from BNP Paribas: “BNP Paribas Securities Services won this mandate according to ARAG due to the financial stability of BNP Paribas, the worldwide comprehensive network and the high quality service level of BNP Paribas Securities Services.
The migration started in February and was successfully completed in March.