BNP Paribas appointed by Banco Mediolanum’s depositary bank in Spain
16 December 2025 Spain
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BNP Paribas’ Securities Services business has formed an agreement with Banco Mediolanum to become the new depositary bank for Banco Mediolanum in Spain, representing a total volume of over €4.7 billion assets under depositary across 10 investment funds.
This alliance is part of Securities Services’ growth strategy in targeted markets across Europe and globally.
This integration reinforces BNP Paribas’ existing relationship with Mediolanum Group in Europe, including a range of securities services already provided in Ireland and Italy.
Through this partnership, BNP Paribas’ Securities Services business has been appointed as the depositary bank of Banco Mediolanum’s Spanish investment vehicles.
A collective joint effort between both parties and their client focus approach have been factors in the success of the transaction.
Soledad Lecube, head of Spain, Securities Services, BNP Paribas, comments: “Spain is a longstanding strategic European market for our Securities Services business, and we are committed to keep developing our local expert teams and product offerings.
"Banco Mediolanum and BNP Paribas share common values of operational excellence and a strong European presence. This integration is a testament to our ongoing efforts and commitment to the region.
"Being the top depositary bank for independent asset managers in Spain and the fourth leading provider of depositary banking services in the country, we look forward to growing alongside our clients and provide them with best-in-class services.”
This alliance is part of Securities Services’ growth strategy in targeted markets across Europe and globally.
This integration reinforces BNP Paribas’ existing relationship with Mediolanum Group in Europe, including a range of securities services already provided in Ireland and Italy.
Through this partnership, BNP Paribas’ Securities Services business has been appointed as the depositary bank of Banco Mediolanum’s Spanish investment vehicles.
A collective joint effort between both parties and their client focus approach have been factors in the success of the transaction.
Soledad Lecube, head of Spain, Securities Services, BNP Paribas, comments: “Spain is a longstanding strategic European market for our Securities Services business, and we are committed to keep developing our local expert teams and product offerings.
"Banco Mediolanum and BNP Paribas share common values of operational excellence and a strong European presence. This integration is a testament to our ongoing efforts and commitment to the region.
"Being the top depositary bank for independent asset managers in Spain and the fourth leading provider of depositary banking services in the country, we look forward to growing alongside our clients and provide them with best-in-class services.”
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