The deal is its largest in the Latin America region for BNP Paribas after onboarding Protección’s foreign portfolio of $7.5 billion in assets.
Tag: global custody
BNP Paribas Securities Services stated it has significantly grown its presence in the Netherlands in recent years with added pension fund services.
The mandate marks the latest in a series of partnerships for Northern Trust’s brokering service, which has recently signed a flurry of emerging fund managers.
The Danish pension fund giant put out an RFP to custodians in late 2018 with its current contract due to expire later this year.
Northern Trust will provide fund administration, fund accounting, transfer agency and global custody to the Crossmark mutual funds.
New research from industry analytics provider Coalition showed revenues from global securities services providers collectively reached $37.2 billion in 2018.
Northern Trust underwent an organisational restructure within its asset servicing leadership at the end of last year.
Giovanni Fenocchi will take on the role in the second quarter of this year and join the HSS global executive committee.
Global Custodian takes a deep dive into the nominees for its Editors’ Choice awards at this year’s Leaders in Custody event, beginning with the candidates up for Asset Servicing Deal of the Year.
The deal will give China Merchant Bank wider access to international market and supports its growth ambitions.