Setting up OFCs is said to save time and cost for managers establishing funds at other domiciles and distributing funds in Hong Kong.
Tag: BNP Paribas Securities Services
BNP Paribas Securities Services has made four senior appointments to the sales team covering asset manager and alternative investment clients.
The French bank has identified hedge funds as a key growth target over the past year, being one of a small group of remaining bank-owned hedge fund administrators.
High-profile custody mandates and the implementation of new technology products helped drive second quarter revenues.
DWS will transfer its fund administration unit, which is predominantly based in Germany, to BNP Paribas.
The move marks the second successive appointment of one of Deutsche Bank’s former senior securities services members for BNP Paribas.
Diana Senanayake joins BNP Paribas Securities Services after working at RBC Investor and Treasury Services since 2005.
The newly created role will focus on financial intermediaries and corporate clients in the UK, Middle East and South Africa.
She joins BNY Mellon, Citi, State Street as the securities services representatives on the board.