BlackRock Solutions and BNP Paribas Securities Services have entered into a strategic alliance via Aladdin Provider to deliver integrated investment management capabilities to mutual clients.
The partnership will see BNP Paribas Securities Services’ middle office, fund administration and custody services couple up with BlackRock’s Aladdin’s investment management infrastructure to create a fully integrated end-to-end investment management solution.
BNP Paribas Securities Services will also leverage investment management and operating platform Aladdin to perform middle-office outsourced services maintaining Aladdin’s Investment Book of Record as the trusted source of data.
The Aladdin platform combines advanced risk analytics with comprehensive portfolio management tools, trading, operations, compliance, and accounting tools on a single platform.
Arnaud Claudon, head of asset owners and managers client lines at BNP Paribas Securities Services, said: “We are delighted to join the Aladdin Provider network. This innovative operating model, which is already live and co-designed with our mutual client, BNP Paribas asset management, will combine all the advantages of a leading front-office platform with those of our middle- and back-office capabilities and multi-local expertise.”
Sudhir Nair, global head of BlackRock’s Aladdin business, added: “We are thrilled to welcome BNP Paribas Securities Services to the Aladdin Provider network, building on our already strong partnership through eFront. We are particularly excited to have BNP Paribas Securities Services leverage the Aladdin platform to offer middle office services, providing our mutual clients with operating model flexibility and transparency.”
The collaboration extends the current relationship between the two firms, as BNP Paribas Securities Services, a client of eFront since 2007, utilises eFront Invest to provide comprehensive asset servicing solutions to leading alternative asset managers. eFront was acquired by BlackRock in 2019.
