– BNP Paribas and Natixis announce today the signature of a memorandum of agreement for the acquisition of a minority stake of 33. 4% in the capital of SLIB by BNP Paribas. The finalisation of the agreement is subject to the approval of regulatory authorities.
SLIB is currently a 100% subsidiary of Natixis, part of the ‘Services' core business. A contractor referenced by Euronext and LCH Clearnet SA, the company specialises in securities services and offers its clients (mainly investment firms) solutions in negotiation, clearing, settlement and custody activities in France and abroad. SLIB publishes software and ASP (Application Service Provider) packages, supplying services of information management application and support engineering.
Alain Pochet, Head of Banking Operations for the securities services division of BNP Paribas, comments on the signature: “Cooperating with a strategic partner such as SLIB will enable us to expand our services range, particularly in the fields of back-office outsourcing to financial intermediaries and clearing risk management. This agreement also falls within the framework of the MiFID implementation and as such will adhere to the surrounding regulatory and operational challenges, a fact that will strengthen BNP Paribas' position among the main suppliers of clearing services in contact with the new multilateral trading platforms.”
Philippe Dupuis, Executive Chairman, adds: “After many years of success, SLIB is today recognised as one of the major contractors of clearing and regulation, counting among its clients investment services providers in several European countries. This agreement enables us to strengthen our position in a full transfer market. It will contribute to enriching and creating new offers –from negotiation to portfolio management and account holding, to the advantage of the customers –and will boost international expansion.
Indeed, our product offering is set to leverage the technological challenges that come with the implementation of European directives. It is an opportunity that will bring new commercial perspectives, positioning SLIB among the main reference contractors in Europe.”About BNP Paribas
BNP Paribas (www.bnpparibas.com
) is a European leader in banking and financial services, and ranks among the world's top 15 banks by market capitalization. It has 150 000 employees, almost 120 000 of whom are based in Europe. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets.About Natixis
Natixis, the “investments and projects bank” is the jointly held bank of Caisse d'Epargne and Banque Populaire in corporate and investment banking, asset management, private equity and private banking, financial services and receivables management. Backed by nearly 23,000 employees, with a net banking income of €7.2bn, it is a major player in its sector in Europe.
Natixis holds leading positions in its businesses in France, Europe and worldwide: number 1 asset management bank in France with €584bn under management, number 1 in France for employee savings. Natixis enjoys expertise worldwide acknowledged in credit insurance (number 3 worldwide), private equity and structured financing (real estate, commodities, asset-backed finance and leverage finance).