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Richelieu Finance Gestion Privée selects BNP Paribas Securities Services as depository bank and fund administrator.

  • 20.11.2006
Paris - Richelieu Finance Gestion Privée, one of the major independent asset management companies in France, selected BNP Paribas Securities Services as depositary bank, transfer agent and fund administrator. BNP Paribas Securities Services will additionally provide middle-office functions, investment reporting, as well as performance measurement and analytics services.
The migration, which was successfully finalized on September 25, 2006, represents more than 4.3 billion of assets under custody.

Richelieu Finance Gestion Privée decided to appoint BNP Paribas Securities Services on its quality of services, its comprehensive and flexible offer, as well as its robust expertise in assisting management companies. Richelieu Finance Gestion Privée can thus concentrate on its core business while leveraging and benefiting from BNP Paribas Securities Services technology investments.

Bernard Blaud, Head of Sales France of BNP Paribas Securities Services, comments: "We are very pleased with our partnership with Richelieu Finance Gestion Privée. We have built this privileged relationship on a mutual trust and common interest for solutions specifically adapted to the development of their activities in France and Europe. This mandate underlines our unique expertise in meeting the particular needs of major institutional investors."

BNP Paribas Securities Services
BNP Paribas Securities Services 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 4,000 dedicated staff in 18 countries, BNP Paribas Securities Services has over 700 clients, including 8 of the world's top 10 investment managers, and a global custody network covering 90 markets. It holds EUR 3.25 trillion of assets under custody (June 2006) and EUR 515 billion of assets under administration for over 4,000 funds world-wide. BNP Paribas Securities Services also provides investment reporting, performance attribution and risk measurement services for 2,500 portfolios. In 2005, BNP Paribas Securities Services processed over 27 million transactions.
Press contact(s)
For further information, please contact:
Shani Halstead, Corporate Communications Tel: +44 (0) 20 7595 2436
Celeste Matta-Brown, Corporate Communications Tel: +44 (0) 20 7595 4653