AIIB Awards Global Custody Mandate to BNP Paribas - BNP Paribas China
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May 18, 2017 -

AIIB Awards Global Custody Mandate to BNP Paribas

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The Asian Infrastructure Investment Bank (AIIB) has awarded a global custodian mandate to BNP Paribas Securities Services as the new, Beijing-based bank seeks to put in place its internal financial infrastructures for its liquidity investments. BNP Paribas is expected to have global custody of up to USD 20 billion of AIIB assets and will be providing a suite of custody services, with the agreement covering master custody services and other value-added services.

Thierry de Longuemar, AIIB’s Vice-President and CFO, said, “As a new multilateral financial institution, we are focused on building our trading capabilities to deliver infrastructure projects that will improve Asia’s development. BNP Paribas demonstrated solid understanding of our needs and provides us with an integrated, global solution. We also observed a strong level of management commitment and a partnership approach that is aligned with our culture and values.”

“This is a complementary partnership, with BNP Paribas being a responsible and sustainable bank and AIIB’s lean, clean and green ethos,” BNP Paribas’ Asia Pacific Chief Executive Officer Eric Raynaud said. “The breadth of our investment support & facilitation capabilities, the strength of our horizontal integration model and our strong service capability, resulted in BNP Paribas winning this mandate in a global tendering process, demonstrating our One Bank approach is important to our clients.”

The agreement is set to be implemented in the third quarter of 2017.