NEW YORK, NY--(Marketwire - May 29, 2012) - BNP Paribas Securities Services (BNP Paribas) today announced that it has won a mandate to provide sub-custody and settlement services to ConvergEx Group (ConvergEx) in Poland.
ConvergEx provides proprietary software products and technology-enabled services to more than 4,000 asset managers and financial intermediary customers. It offers its global customers execution in more than 100 markets worldwide.
Commenting on the arrangement, Bea Ordonez, chief operating officer of ConvergEx's global execution business, said, "We were very impressed with BNP Paribas Securities Services' capabilities in Poland and are pleased to have appointed them as our sub-custodian."
Andrzej Szadkowski, head of BNP Paribas Securities Services Poland, said, "We are pleased to have signed this agreement with ConvergEx and we look forward to supporting their business activities here in the burgeoning Polish market. This win significantly strengthens our position as a sub-custodian in Poland."
The development extends a relationship that began in 2009 when ConvergEx appointed TEB Securities Services, BNP Paribas Securities Services' joint venture in Turkey, as its local custodian in the Turkish market.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
About BNP Paribas Securities Services
BNP Paribas Securities Services (http://securities.bnpparibas.com/jahia/Jahia/site/portal), a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by a strong universal bank. It provides integrated solutions to all participants in the investment cycle including the buy side, sell side, corporates and issuers.
The bank has a local presence in 34 countries across five continents, effecting global coverage of more than 100 markets. It partners with clients to help overcome complexity, while offering a one-stop shop for all asset classes, both onshore and offshore, around the world.
Key figures as at 31 March 2012: USD 6,731 billion of assets under custody; USD 1,232 billion of assets under administration; more than 7,000 administered funds and 7,700 employees.
BNP Paribas Securities Services is a société en commandite par actions (partnership limited by shares) incorporated in France, with limited partners with limited liability and one general partner with unlimited liability, with its registered office at 3, rue d'Antin - 75002 PARIS - Paris Trade Register B552 108 011 RCS.
BNP Paribas Securities Services is authorised and supervised by the Autorité de Contrôle Prudentiel (ACP) and by the Autorité des Marchés Financiers (AMF). BNP Paribas Securities Services London branch is authorised by and subject to limited regulation by the Financial Services Authority for the conduct of its investment business in the United Kingdom; details on the extent of our regulation by the Financial Services Authority are available from us on request. BNP Paribas Securities Services London Branch is also a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited and Investment Fund Services Limited are authorised and regulated by the Financial Services Authority.BNP Paribas Securities Services, London Branch is registered in England and Wales under No. FC023666.
The services described in this document, if offered in the U.S., are offered through BNP Paribas and its subsidiaries and affiliates. Securities products are offered through BNP Paribas Securities Corp., a subsidiary of BNP Paribas, a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC, the Financial Industry Regulatory Authority, the New York Stock Exchange and other principal exchanges.