The newly created operations and technology transformation office is part of the bank’s multi-year transformation strategy.
Significant cost pressures have been a driving force behind innovation, and custodians are planning to devote a greater proportion of revenues to innovation investment.
Deutsche Bank becomes the second major custodian to go live on the platform, after Citi announced in April that it would connect to Proxymity for 10 markets.
BNP Paribas Securities Services has been one of the most active banks in establishing partnerships with FinTechs and other third-party providers. Alvaro Camunas, head of client development at BNP Paribas Securities Services, explains to Global Custodians the motives behind these recent moves.
The mandate is the latest for HSBC, which has become a leading provider for international fund managers to launch UCITS funds.
The custodian’s Front Office Solutions unit advances its partnership with Parilux Investment Technology to provide data solution for asset owners.
The partnership is the latest by JP Morgan as it looks to provide full investment lifecycle data products to its buy-side clients.
As part of the launch, BNP Paribas Securities Services has become a direct participant in the Chilean CSD, Depósito Central de Valores.
Custody mandate will be for the soon-to-be combined AUD$28 billion entity of LGIAsuper, Energy Super and Suncorp’s superannuation business.
The win helped propel its assets under custody and administration (AUC/A) by 20% year-on-year to reach €13.9 trillion.