ING Outsources Administration Of Belgian And Luxembourg Funds To BNP Paribas Securities Services

ING Luxembourg and ING Investment Management (ING) have outsourced the administration of their Belgian and Luxembourg domiciled funds to BNP Paribas Securities Services. The funds manage assets worth Euros 33 billion. The funds were previously handled in house at ING.

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ING Luxembourg and ING Investment Management (ING) have outsourced the administration of their Belgian and Luxembourg-domiciled funds to BNP Paribas Securities Services. The funds manage assets worth Euros 33 billion.

The funds were previously handled in-house at ING. . As part of the transaction, it is anticipated that approximately 60 ING staff in Luxembourg will transfer to BNP Paribas.

“We are very pleased to have been selected by ING as their outsourcing partner for their Belgian and Luxembourg funds,” says Georg Lasch, Head of Sales for Institutional Investors at BNP Paribas Securities Services in Luxembourg. “We anticipate a smooth migration of activity, and also look forward to welcoming ING staff to BNP Paribas.”

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