Europe is fragmented and will remain so for some time according to Jacques-Philippe Marson, head of BNP Paribas Securities Services. Speaking at SIBOS in San Francisco, Marson urged for co-operation between institutions as a means of building greater confidence in Europe.
“With so much innovation and consolidation taking place there is a need to seek out the right partners,” he said. Marson described Europe as “a fragile base for the expected rapid growth and business opportunities arising from the new euro-currency issuance and investment flows.
“Markets are moving from national to regional but they have some way to go. Partnering solutions will combine the best of local on-the-spot expertise with a regional and international capability. This and local knowledge of national market practices combined with an up to date understanding regional and international trends and issues are critical. Excellent customer support…is also essential,” he said.
“Market users are operating in a melting pot, requiring a redefinition of the investment cycle and the need to partner solutions with customers and suppliers…when the stakes are high you have to be sure of whom you can trust,” he said.