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BNP Paribas Securities Services announces successful migration of Credit Suisse Asset Management into Aberdeen Asset Management

BNP Paribas Securities Services (‘BNP Paribas'), provider of back and middle office services for Aberdeen Asset Management (‘AAM'), is pleased to announce the successful migration of circa £38bn of assets and 340 portfolios from Credit Suisse Asset Management to Aberdeen Asset Management.
Following the announcement by Aberdeen Asset Management (AAM) in December 2008 regarding their purchase of a large part of the Credit Suisse Global Investor (CSGI) business, AAM and BNP Paribas have built on their strategic relationship to deliver a joint operating model for the newly integrated AAM/CSGI business.
In total seven migrations have been planned and executed on schedule. The first of these took place in April for the Singapore based funds. The largest and most complex was successfully delivered over the weekend of 3 & 4 October when BNP Paribas moved 155 portfolios from Credit Suisse Asset Management to the Aberdeen Asset Management / BNP Paribas joint operating model. The portfolio scope covered the US, the UK, Hungary, France, Japan and Australia, delivering custody, middle office, fund accounting, client reporting, performance, attribution and global investment performance standards.

Martin Gilbert, CEO of Aberdeen Asset Management commented: “This was without question one of the most complex migrations we have undertaken to date. Given this complexity it is a notable achievement that the project hit all the key milestones. The efficient global operating model and the strength of the strategic relationship between Aberdeen and BNP Paribas made this possible.”
Patrick Colle, Head of BNP Paribas Securities Services UK added ‘A huge effort from the joint partnership achieved this in only 11 months from project initiation to closure. We are delighted that the migration has gone smoothly and to have supported AAM in this strategic initiative.'

About BNP Paribas Securities Services
BNP Paribas Securities Services, a wholly-owned subsidiary of BNP Paribas, is the largest securities services provider in Europe and 5th globally in terms of assets under custody.
Operating across the investment cycle, BNP Paribas Securities Services provides post-trade administration solutions to buy-side and sell-side financial institutions and issuers.
With 6,400 employees present in 28 countries, BNP Paribas Securities Services works alongside its clients in more than 100 markets, to deliver independent flexibility and commitment, backed by the strength of a leading universal bank.
Key figures : EUR 3.34 trillion (USD 4.65 trillion) assets under custody, 60,7 million transactions settled, EUR 565 billion (USD 786 billion) assets under administration and 5891 funds administered*
* As at 31 December 2008

About BNP Paribas
BNP Paribas ( is one of the 6 strongest banks in the world according to Standard & Poor's*. With a presence in 85 countries and more than 205,000 employees, 165,200 of which in Europe, BNP Paribas is a global-scale European leader in financial services. It holds key positions in its three activities: Retail banking, Investment Solutions and Corporate & Investment Banking. The Group benefits from its four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
* Within its peer group