Through the partnership, more than 100 Janus Henderson employees currently providing middle- and back-office functions in the US will become employees of BNP Paribas.
BNP Paribas will pay Janus Henderson a net consideration of approximately $36 million for the deal, which is expected to close in March 2018.
According to BNP Paribas, this outsourced model will provide support to Janus Henderson’s regulatory and industry issues, and help the firm grow internationally.
BNP Paribas also claims that Janus Henderson’s clients will benefit from lower administration fees and expenses, as a result of the reduction in overall operating costs associated with these functions.
The partnership is part of BNP Paribas’s 10-year build-out of its Securities Services business in the US, which began with the launch of global and US custody offering in 2012.
Andrew Formica, co-CEO at Janus Henderson Investors, said: “The expansion of our partnership with BNP Paribas to include US services is yet another benefit to clients resulting from the merger between Janus and Henderson. BNP Paribas has been an excellent partner since we began our relationship more than 15 years ago.”
Patrick Colle, CEO of BNP Paribas securities services, added: “We are delighted to further broaden our long-time partnership with Janus Henderson. This is a transformational opportunity for both our US platform and our global funds business. We are now able to offer a complete multi-asset class, middle-to-back office solution, covering all major markets in the world, including the US.”