BNP Paribas Security Services had been appointed as custodian and investments administrator for Australian pension fund TWUSuper.
With more that AUD 3.9 billion in funds under management and 100,000 members, TWUSuper is the largest pension fund for the transport and logistics industry in Australia.
Paul Sayer, CEO of TWUSuper, said: “After an extensive due diligence process with the assistance of Drew Vaughan of Dymond, Foulds & Vaughan, we determined that the BNP Paribas team understood and could satisfy our current and future needs in an ever changing regulatory landscape – in particular around the areas of investment performance reporting, risk analytics and online solutions.”
“We look forward to working with the strong leadership team at BNP Paribas and to developing a close working relationship in order to provide first class services to our members”.
This marks the end of a successful year for BNP Paribas in Australia. It has also won mandates from Australian Unity, Certitude Global Investments and Crescent Wealth.
Ian Perkins, head of BNP Paribas Securities Services in Australasia, said: “We look forward to working with [TWUSuper] to optimise their operational processes – including investment performance reporting - minimising risks through world-class analytics, enhancing performance returns for their members and providing online solutions, all through a single platform.”
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