Banco di Desio will benefit from BNP Paribas Securities Services’ extensive network, which includes 27 proprietary markets, and from its on-the-ground local asset servicing expertise.
Mauro Walter Colombo, Deputy General Manager of Banco di Desio e della Brianza, said: "The decision to award our global custody business to BNP Paribas Securities Services was driven by its ability to help us manage operational risk, maintain efficient internal procedures and support our strong organisational structure. This ultimately helps us provide value and service quality to our clients.”
Stefano Catanzaro, General Manager of BNP Paribas Securities Services Italy, said: "This is a prestigious mandate, which consolidates our position as a leader in custody services for major banks in the Italian market. The Banco Desio Group will benefit from our global reach and local expertise, which will help them enhance operational efficiency and continue to grow their business. We are delighted to be working alongside a domestic partner that has been supporting its clients and building value for over a century. We hope that cooperation will develop further in the future.”
Banco Desio is an Italian banking group, which through its companies operating in Italy and abroad, offers a complete range of banking, financial and insurance solutions.
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About BNP Paribas Securities Services (www.securities.bnpparibas.com)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With offices in 34 countries and a global reach covering 95 markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
Key figures as of 31 December 2016: USD 9.1 trillion in assets under custody, USD 2.1 trillion in assets under administration, 10,166 funds administered and over 10,000 employees.