BNP Paribas Securities Services and AXA Investment Managers Extend Successful Relationship to Latin America
April 28, 2014 - NEW YORK, NY
BNP Paribas Securities Services, a global custodian with over USD 8 trillion in assets under custody, and AXA Investment Managers (AXA IM) announce the extension of an existing partnership to include settlement agency services in Latin America through BNP Paribas' membership to the National Securities Clearing Corporation (NSCC) regional clearing platform.
The deal represents a significant move by AXA IM to capitalise on the trend for fund managers distributing into the Latin American region. Investors and, crucially, local regulators are becoming ever more open to opportunities to connect local investors with inbound international funds. Connecting to NSCC through BNP Paribas enables AXA IM to make its fund ranges accessible to the largest brokers active in Latin America. This step is part of AXA IM's ongoing efforts to expand and strengthen its geographical footprint.
Joseph Pinto, Chief Operating Officer, at AXA IM said, "Latin America is a key target market for us as the doors into the region are opening. This deal sees the extension to Latin America of AXA IM's 'Offer to meet Needs Everywhere' (ONE) -- a highly successful client service platform already in place in Europe and Asia. We want to make it as easy as possible for clients to invest with us and the ONE platform was designed to provide simple and efficient access for investors to AXA IM's fund ranges. BNP Paribas has shown constant support in our international expansion, providing expertise in regulatory change and distribution trends locally. We are pleased to be partnering with them in our efforts to make our funds available to investors in Latin America."
Jean Devambez, head of asset and fund solutions, BNP Paribas Securities Services, said, "We applaud AXA IM for this move into Latin America and are very happy they have chosen to appoint us. European asset managers have their sights fixed on Latin America, but there are several barriers which are causing them to hesitate. We believe that a fuller understanding of the region will allow many more managers to take advantage of the opportunities there."
BNP Paribas, in conjunction with SAGALINK consulting, recently produced a white paper on the five most important target destinations for fund distribution in Latin America. The white paper is designed to aid fund managers navigate the nuanced local regulatory environments and understand investor behaviours.
Devambez continued, "Latin America has become a hot spot for fund distribution, attracting a growing number of foreign funds and asset managers attempting to capture rapidly growing local interest in foreign securities. We understand the challenges our clients face when entering new markets, and look to stand by them throughout the process."
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in nearly 80 countries with 190,000 employees, including 145,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
About BNP Paribas Securities Services
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by the strength of a universal bank. It provides integrated solutions to all participants in the investment cycle including the buy-side, sell-side, corporates and issuers.
Covering over 100 markets, with our own offices in 34 countries, the BNP Paribas network is one of the most extensive in the industry. We bring together local insight and a global network to enable clients to maximize their market and investment opportunities worldwide.
Key figures as of 30 June 2013: USD 7,679 billion assets under custody, USD 1,381 billion assets under administration, 6,979 administered funds and 7,900 employees.
About AXA Investment Managers
AXA Investment Managers is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with approximately EUR 547 billion in assets under management as of the end of December 2013. AXA IM employs over 2,100 people around the world and operates out of 22 countries.
Visit our website: www.axa-im.com
SAGALINK Consulting is a Paris-based consulting company created in 2009. The firm specializes in the following industries: Asset management, Asset servicing, Insurance and Private banking.
Visit our website: www.sagalink-consulting.com
BNP Paribas Securities Services is a société en commandite par actions (partnership limited by shares) incorporated in France, with limited partners with limited liability and one general partner with unlimited liability, with its registered office at 3, rue d'Antin - 75002 PARIS - Paris Trade Register B552 108 011 RCS.
BNP Paribas Securities Services is authorised and supervised by the Autorité de Contrôle Prudentiel (ACP) and by the Autorité des Marchés Financiers (AMF). BNP Paribas Securities Services London branch is authorised by and subject to limited regulation by the Financial Services Authority for the conduct of its investment business in the United Kingdom; details on the extent of our regulation by the Financial Services Authority are available from us on request. BNP Paribas Securities Services London Branch is also a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited and Investment Fund Services Limited are authorised and regulated by the Financial Services Authority.BNP Paribas Securities Services, London Branch is registered in England and Wales under No. FC023666.
The services described in this document, if offered in the U.S., are offered through BNP Paribas and its subsidiaries and affiliates. Securities products are offered through BNP Paribas Securities Corp., a subsidiary of BNP Paribas, a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC, the Financial Industry Regulatory Authority, the New York Stock Exchange and other principal exchanges.