BNP Paribas Wins Major Custody Mandate from Allianz in the UK
BNP Paribas Securities Services has been appointed as the sole custodian for Allianz's investment accounts in the UK. The comprehensive mandate covers a range of services, marking a significant win for BNP Paribas.
The agreement includes global custody, agency securities lending, auto foreign exchange, continuous linked settlement, and cash services. Additionally, BNP Paribas will provide customised reporting via its NeoLink client platform. This appointment follows BNP Paribas' recent consolidation of its global client development and territory divisions under Alessandro Gioffreda. Notably, the new head of the global client development and territories department, Marko Hont, recently signed a proxy voting services agreement with Proxymity. BNP Paribas has also signed a deal with Proxymity to implement its proxy voting service in the UK, Australia, and New Zealand. This expansion of services aligns with Arnaud Claudon's, head of asset managers and asset owners' client lines, goal to establish BNP Paribas as a 'European global custodian of choice'.
BNP Paribas Securities Services has secured a major mandate from Allianz, further cementing its position as a leading global custodian. The expanded services and strategic appointments demonstrate the firm's commitment to growing its asset servicing capabilities in the UK and beyond.
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