BNP Paribas Securities Services has won a mandate to provide Berenberg with depositary bank, transfer agent, listed derivatives clearing, and OTC derivatives services in Germany and Luxembourg.
The new mandate comes in addition to the existing multi-market relationship between the two firms, which already includes local clearing, settlement, and custody services across multiple markets and comprises Berenberg’s full fund range, with currently 18 Ucits funds in Luxembourg and 12 in Germany, representing a total of €5 billion assets.
The Securities Services business of BNP Paribas is a global custodian with US$14.4 trillion in assets under custody.
Founded in 1590, Hamburg-based Berenberg is one of Europe’s oldest privately-owned banks.
