New York, N.Y. and Paris, France, 14 June 2004 - BNP Paribas today announced a minority investment in Integrated Finance Limited (IFL, www.ifltd.com), a global financial advisory firm.
A specialized investment bank providing strategic advice for clients, IFL was founded in 2002 to develop and implement integrated solutions using leading financial technology. With its investment, BNP Paribas joins IFL cofounders Peter D. Hancock, Roberto G. Mendoza and Robert C. Merton and institutional shareholders ACE Limited and NIB Capital.
IFL offers a unique combination of objective, strategic advice and associated risk-taking based on modern financial technology, without bias as to product, market, institution or industry. From its offices in New York, London and Tokyo, IFL assists corporations, governments and institutions with their most complex strategic problems. The firm's analytical process looks beyond existing structures and traditional products to identify clearly core issues that require resolution.
This partnership will enable IFL and BNP Paribas to combine their respective problem solving and execution capabilities to design optimal solutions for top-tier clients, especially in the area of strategic risk management and derivatives. In particular, BNP Paribas's equity derivatives and fixed income business lines will work closely with IFL in the new partnership, which may also involve other of the bank's investment banking teams.
Philippe Blavier, Head of Investment Banking for BNP Paribas, commented: "We are very excited to be joining IFL and its esteemed group of financial advisors, whose capabilities, profile and strategic approach are unique in the industry today. The BNP Paribas team looks forward to developing a strong partnership with IFL, to help advance the firm's innovative approach to the markets."
IFL Chairman Roberto Mendoza commented: "A firm of superior strength, heritage and character, BNP Paribas has a world renowned culture of excellence. We are delighted to welcome BNP Paribas as a strategic shareholder."
About BNP Paribas:
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. It is the first-ranked bank in terms of net income and market capitalisation in the Eurozone (as of 2003). The group has one of the largest international banking networks, with a presence in 85 countries and 89,400 employees, including more than 10,000 in the United States. BNP Paribas enjoys key positions in corporate and investment banking, private banking & asset management, insurance, securities services and retail banking.
About ACE Limited:
The ACE Group of Companies (www.acelimited.com) provides insurance and reinsurance for a diverse group of clients. The company conducts its business on a global basis with operating subsidiaries in nearly 50 countries.
About NIB Capital:
NIB Capital (www.nibcapital.com) is a merchant bank headquartered in The Hague, which provides a broad range of wholesale financing, advisory, capital market and private equity services to international clients. NIB Capital is an ABP and PGGM company and NIB Capital Bank has long-term ratings of AA-/Aa3.