BNP Paribas wins service provider mandate from Fineco Asset Management

Partnership will see BNP Paribas Securities Services providing global custody, depositary banking, fund administration and transfer agency services.

By Chris Lemmon

BNP Paribas has been selected by Fineco Asset Management (FAM) to provide investment banking services to its equities and fixed income ETFs listed on the Italian Stock Exchange.  

Based in Ireland, FAM is a UCITS management company wholly owned by FinecoBank. The new ETFs represent the firm’s first foray into the ETF market, with a view of diversifying the bank’s product offering.  

BNP Paribas’ Global Markets division has been appointed to structure and design the newly- launched ETFs, which will help support FAM’s strategic positioning for long-term growth in the passive investment market.  

In addition, the Securities Services division of BNP Paribas will be providing global custody, depositary banking, fund administration and transfer agency services as well as OTC derivative valuation for this new range of ETFs in Ireland. 

Stefano Sbranchella, head of global markets Italy at BNP Paribas, said: “We are honoured to be the main partner for the structuring and designing of the FAM ETFs. Our strong operational and IT platform allows customers to leverage on existing economies of scale and achieve efficiency even at start. Such a lean set-up provides FAM with a substantial comparative advantage which will be the key for the success of the newly-launched FAM ETFs.” 

Andrea Cattaneo head of securities services Italy, Switzerland & Iberia, at BNP Paribas, added: “We are proud to consolidate our long-standing partnership with FAM in Ireland with this strategic project and to have helped them prepare for this innovative product launch. This is also the result of a strong collaboration between different business lines, allowing FAM to benefit from our integrated bank approach.”