BNP Paribas Securities Services has been granted a banking licence by the Hong Kong Monetary Authority. This is the first major step for BNP Paribas Securities Services in Hong Kong to offer new services to clients.
BNP Paribas Securities Services announces today that its branch in Hong Kong was granted a banking licence by the Hong Kong Monetary Authority.
Three weeks after being granted a banking licence in Singapore, this new stage reaffirms the commitment and the fast expansion of BNP Paribas Securities Services in Asia Pacific. By opening offices in multiple locations across the region, BNP Paribas Securities Services aims at providing its clients with the same state of the art solutions all around the world.
Speaking about the licence, Bruno Campenon, Head of BNP Paribas Securities Services in Hong Kong, says: “We are delighted to be granted this licence as it marks an important step in the development of a unique custodian bank in the Hong Kong market. We still have more steps to go1 but we are confident that we will be able to further support our clients’ growth ambitions in this region and to give them access to our fully integrated and personalised clearing and custody solutions.”
1: subject to further regulatory approvals from the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing limited (HKEx)
About BNP Paribas Securities Services
BNP Paribas Securities Services (securities.bnpparibas.com) is a wholly-owned subsidiary of the BNP Paribas Group, delivering independent flexibility and commitment, backed by the strength of a leading universal bank.
Operating across the investment cycle, BNP Paribas Securities Services provides post-trade administration solutions to buy-side and sell-side financial institutions and issuers. The Bank has a local presence across 25 countries and global coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore, across the globe.
With EUR 3.34 trillion (USD 4.65 trillion) assets under custody, EUR 565 billion (USD 786 billion) assets under administration and close to 6,000 funds administered*, BNP Paribas Securities Services is the Eurozone’s leading securities services provider and number five worldwide by assets under custody.
* As at 31 December 2008
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 6 strongest banks in the world according to Standard & Poor’s. The group is present in 85 countries, with more than 173,000 employees, including 132.700 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
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