BNP Paribas, a leading financial institution, and Allfunds, a world-class independent leader in wealth technology, today announce the completion of their strategic agreement to build next-generation fund distribution services.
As part of this partnership, BNP Paribas Securities Services, a leading global custodian and fund services provider, will give its fund-buyer clients access to more than 2,000 fund houses and 100,000 funds[1] and a range of next generation fund analytics services from its new Fund@ccess platform, which is powered by Allfunds. The integration of fund buying processes between the two companies will also bring clients greater operational efficiency.
In addition, BNP Paribas will entrust Allfunds with the management of its distribution contracts with third-party investment funds, on behalf of the retail, wealth management, insurance and asset management businesses of the BNP Paribas Group.
As part of the agreement, around 250 employees have transferred from BNP Paribas Securities Services to Allfunds, mainly in Poland and Italy, contributing to Allfunds’ expansion.
BNP Paribas Securities Services and BNP Paribas Asset Management now hold together a strategic stake of 22.5% in Allfunds.
Patrick Colle, General Manager of BNP Paribas Securities Services, commented: “We are delighted to announce the completion of our agreement with Allfunds. The partnership will create a leader in the fund distribution space, giving clients access to a wide range of funds and streamlining the fund buying process for greater operational efficiency. Our ambition is to build a new range of fund distribution services enabling clients to seize investment opportunities and enhance the monitoring of their operations.”
Juan Alcaraz, CEO of Allfunds, commented: “We appreciate the expertise BNP Paribas Securities Services is bringing to Allfunds. By integrating the business model of a top-tier custodian bank with the scale and value-added services of our leading fund distribution platform, we will offer a one-stop suite of services that is unique on the market, unrivalled in scale and efficiency, for the benefit of our clients.”
BNP Paribas Securities Services Press Contact
Caroline Lumley caroline.lumley [at] uk.bnpparibas (dot) com +44 (0)20 7410 4650
Footnotes
- ^ [1] Source: allfunds.com
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 the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 35 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
BNP Paribas Asset Management is the asset management arm of BNP Paribas, one of the world’s foremost financial institutions, and offers high value-added solutions to individual savers, companies, and institutional investors. It has a broad range of skills in four investment divisions: Equities, Fixed Income, Private Debt & Real Assets, and Multi-Asset, Quantitative and Solutions (MAQS). Sustainability is at the heart of BNP Paribas Asset Management’s strategy and investment decision-making process, making an active contribution to energy transition, environmental protection and the promotion of equality and inclusive growth. Its aim is to achieve long-term sustainable investment returns for its clients. BNP Paribas Asset Management has assets under management of EUR 428 billion* (as at 30 June 2020), with more than 500 investment professionals and almost 500 client servicing specialists, serving individual, corporate and institutional clients in 72 countries.
* EUR 580 billion of assets under management and advisory as of 30 June 2020
Founded over 20 years ago, Allfunds has evolved into one of the world’s leading wealthtech and fund distribution companies with a service offering which includes data & analytics, trading & execution services, portfolio & reporting tools, research and regulatory solutions. Additionally, Allfunds offers its technology solution “Connect”, a digital ecosystem to bring together fund houses and distributors.
Allfunds has more than €1 trillion assets under administration and offers more than 100,000 funds from over 2,000 fund houses. Allfunds has a presence in Spain, Italy, Luxembourg, Switzerland, United Kingdom, United Arab Emirates, Singapore, Chile, Colombia, Brazil, Sweden, France, Hong Kong and Poland, and has agreements with over 2,300 institutions, including major commercial banks, private banks, insurance companies, fund managers, international brokers, and specialist firms from over 55 different countries.