BNP Paribas Securities Services announces the setting up of an office in Singapore. Upon completion of the regulatory approvals, this will complete the BNP Paribas service delivery capability on the ground in all major global time zones and regions.
Asia is a strategic region for expansion for BNP Paribas Securities Services in order to service its global clients in multiple locations. The activity in Asia will fully leverage the BNP Paribas group's long established, strong presence in the region.
To reinforce BNP Paribas' presence and growth plans, Marcel Weicker (subject to the approval of the regulators) will be appointed Head of Location for the Singapore office reporting to Jean-Marc Pasquet, Head of Asia Pacific. Mr Weicker joins BNP Paribas from RBC Dexia.
Speaking about the Singapore Office, Jean-Marc Pasquet Head of Asia Pacific said “The launch of the Singapore Office is a significant milestone in the continuous growth of BNP Paribas Securities Services. Having a local presence in Asia means we can offer an expanded product range and servicing capability to our global clients with local expertise and knowledge.”
Speaking about his proposed new role Marcel Weicker said “I am looking forward to developing the Securities Services business in Singapore, starting with the support of our European clients for their fund administration and custody needs in Asia.” Notes to the editors:About BNP Paribas Securities Services
BNP Paribas Securities Services (securities.bnpparibas.com
) is a leading securities services provider to the world's financial institutions, with a local presence in all key European markets as well as in the US and Australasia. With 5,000 dedicated staff in 20 countries, BNP Paribas Securities Services has almost 900 clients, including 8 of the world's top 10 investment managers, and a global custody network covering 91 markets. It holds over EUR 3.9 trillion of assets under custody (June 2007) and EUR 825 billion of assets under administration for 6,125 funds worldwide. The bank also provides performance attribution and risk-management analysis for 2,900 investment portfolios, and in 2006 processed over 32 million securities transactions.About BNP Paribas
BNP Paribas (www.bnpparibas.com
) is a European leader in global banking and financial services and is one of the 5 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with 155,000 employees, including 123,000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
For further information contact:
Shani Halstead, BNP Paribas Corporate Communications, London +44 (0) 20 7595 2436
Hélène Delannoy, BNP Paribas Corporate Communications, Paris +33 (0) 1 4014 6514
Yunis Lee, BNP Paribas Corporate Communications, Singapore +65 6210 1038