Fidelity has chosen BNP Paribas Securities Services (‘BNP Paribas’) as the sole custodian, depo-bank and fund administrator for its new range of employee savings plan funds in France.
This mandate strengthens BNP Paribas’ longstanding relationship with Fidelity, which has been established for over ten years. BNP Paribas already administers over 400 similar employee savings plans representing over EUR 20 bn of assets already under administration, making it a perfect fit for Fidelity’s business needs. This new mandate again reinforces the Bank’s strategy to assist with the growing needs of pension funds and the retirement and savings sector in France and across Europe.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 4 strongest banks in the world according to Standard & Poor’s. The group is present in over 85 countries, with more than 168,000 employees, including 129,500 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
About BNP Paribas Securities Services
BNP Paribas Securities Services (www.securities.bnpparibas.com) is a wholly-owned subsidiary of BNP Paribas. With €3.6 trillion assets under custody, €744 billion assets under administration and close to 6,000 funds administered, BNP Paribas Securities Services is the leading European provider of securities services and rated number 5 in the world.
BNP Paribas Securities Services has a unique multi-local model, servicing both the buy-side and sell-side with 5,600 employees worldwide, a local presence across 25 countries and global coverage of 92 markets.