Raiffeisen Bank International (RBI) has selected BNP Paribas Securities Services as local custodian for its $3.2 billion US domestic portfolio.
The corporate and investment bank and custody provider selected BNP Paribas following a competitive tender process.
Stefan Wallner, head of network management at RBI, said: “BNP Paribas Securities Services’s international presence and global operating model were key to our decision to appoint them as our local US custodian.”
He added: “We were also impressed with the quality of BNP Paribas’s corporate actions services and the expertise and commitment of the team.”
Bruno Campenon, head of custody and clearing services for BNP Paribas Securities Services in the Americas, commented: “We are delighted to have won this mandate, which demonstrates our growing strengths and expertise in the US.”
“RBI, a long-standing partner of BNP Paribas Securities Services, will benefit from our local expertise and client service as well as our presence in both the US and Europe, which will provide them with extended 16-hour service coverage throughout the day.”
BNP Paribas Securities Services launched its US custody offering in 2012, in order to offer post-trade services to banks, brokers and institutional investors looking to access the US market.
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