Key Takeaways
- • BNP Paribas Securities Services has formed a mandate with BCC Risparmio & Previdenza to provide an integrated suite of services covering €8 billion in assets under administration.
- • The mandate includes custody, fund accounting, transfer agency, middle office, OTC collateral management, and depositary bank services.
- • The assets covered include the Aureo open-ended pension fund and Italian-domiciled UCITS funds.
- • BCC Risparmio & Previdenza, the asset management arm of BCC Iccrea Group, manages approximately €38 billion in assets.
- • The mandate is positioned by both parties as part of BNP Paribas' integrated bank model, linking custody, administration and investment banking through a single point of contact.
Summary
BNP Paribas' Securities Services business has formed a mandate with BCC Risparmio & Previdenza, the asset management arm of the BCC Iccrea Group, according to Securities Finance Times. The mandate covers €8 billion in assets under administration, including the Aureo open-ended pension fund and Italian-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) funds.
Under the agreement, BNP Paribas Securities Services will provide custody, fund accounting, transfer agency, middle office and OTC collateral management services, as well as depositary bank services. The source article states that the offering fits within BNP Paribas Group's integrated bank model, supporting the SGR's operational needs from custody through administration and connecting to investment banking through a single point of contact.
BCC Risparmio & Previdenza manages approximately €38 billion in assets and works with BNP Paribas on solutions in asset management and pensions. Andrea Cattaneo, head of Italy, Switzerland and Iberia at BNP Paribas Securities Services, said the mandate reflects confidence in the bank's ability to tailor its offering to each client's needs to ensure operational efficiency.
Andrea Cecchini, CEO of BCC Risparmio & Previdenza, said the firm was delighted to sign the agreement. He cited BNP Paribas' leading position in Europe, global operating model and regulatory expertise, and said the relationship provides complete assistance for the SGR's non-Italian law solutions and supports service quality for BCC customers.
Under the agreement, BNP Paribas Securities Services will provide custody, fund accounting, transfer agency, middle office and OTC collateral management services, as well as depositary bank services. The source article states that the offering fits within BNP Paribas Group's integrated bank model, supporting the SGR's operational needs from custody through administration and connecting to investment banking through a single point of contact.
BCC Risparmio & Previdenza manages approximately €38 billion in assets and works with BNP Paribas on solutions in asset management and pensions. Andrea Cattaneo, head of Italy, Switzerland and Iberia at BNP Paribas Securities Services, said the mandate reflects confidence in the bank's ability to tailor its offering to each client's needs to ensure operational efficiency.
Andrea Cecchini, CEO of BCC Risparmio & Previdenza, said the firm was delighted to sign the agreement. He cited BNP Paribas' leading position in Europe, global operating model and regulatory expertise, and said the relationship provides complete assistance for the SGR's non-Italian law solutions and supports service quality for BCC customers.
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