However assets under custody for the French bank fell by 1.3% to €9.3 trillion as a global sell-off in equity markets hit Europe.
Tag: BNP Paribas Securities Services
The move forms part of its overall strategy to simplify access to China for institutional investors that have, so far, found it too complicated to invest.
Cypriot financial services firm selects French bank for fund services and custody.
BNP Paribas has more than tripled its assets under custody over the past five years under the leadership of Philippe Benoit.
Bon spent 17 years at JP Morgan in a variety of senior roles in New York and London, most recently leading the direct and global custody business in the Americas.
BNP Paribas will provide CMC Markets with custody and settlement services for its trading activities across 11 countries.
The appointment comes as BNP Paribas prepares to onboard €240 billion of assets for DWS on to its fund administration platform.
The hire marks BNP Paribas’ strategy to grow its fund administration business for hedge funds and private capital funds for the region.
Buy-side and sell-side are challenged with implementing real technological solutions as constant innovations continue to flood the market.