mast image

Special Report

Impact investing

Sections

BNP Paribas to launch UK custody and clearing

UK- BNP Paribas is to launch custody and clearing services in the UK later this year. The bank says preparation is well underway but that it is awaiting the relevant regulatory approval. A preliminary date is late summer, perhaps in August or September.

“We’re becoming a true pan European provider. The UK is the biggest market in Europe so obviously it make sense to provide services there,” says a spokeswoman.

BNP already sells continental clearing and custody services to global custodians in the UK. The pattern is set to be repeated- first the launch of clearing followed by domestic custody. “We’ll really be acting as a sub custodian in the UK,” says the spokeswoman.

BNP’s head of new markets Mark Hillman is leading a team setting up the systems and working on regulatory approval. As yet there is no one appointed to oversee the UK operation once it is established.

Scandinavia remains the only region uncovered in Europe and is likely to be the bank’s next market.


Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2540

    Asset class: All/Large Cap Equities.
    Asset region: UK.
    Size: The fund will be added to our guided fund range.
    Closing date: 2019-05-27.

  • QN-2541

    Asset class: Small/Mid-Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

  • QN-2542

    Asset class: All/Large Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

Begin Your Search Here