NEW YORK, NY and LONDON, UNITED KINGDOM--(Marketwired - Jan 14, 2014) - BNP Paribas Securities Services, a global custodian with nearly USD8 trillion in assets under custody, today announced the appointment of Alexandra Ricciardi in New York as head of product development for collateral services, North America.
This newly created position extends BNP Paribas' established European collateral franchise to North America, enabling USA and Canadian based clients to access the bank's services locally. They will benefit from BNP Paribas' experience with its successful franchise in Europe, where its long standing collateral service was enhanced with the launch of the 'Collateral Access' suite of products in June 2013. The bank's clients in Europe and the Asia Pacific will also be able to access the service in North America once the launch is complete.
Mrs. Ricciardi has been hired to oversee the expansion locally in the USA and adapt the product to the nuances of the American market. The launch, expected in Q2 of this year, represents another step in BNP Paribas Securities Services' investment in its USA location, in order to provide a complete suite of services for its clients globally, including the launch of global custody also expected later this year.
Mrs. Ricciardi has nearly 15 years' experience working in financial services including sales and relationship management for collateral management, most recently at JP Morgan.
Commenting on the appointment, Claudine Gallagher, head of North America, BNP Paribas Securities Services, said, "BNP Paribas has a very strong collateral management offering in Europe, where we are known for our focus on client service and asset safety. Launching this service in the US is an exciting part of our ongoing expansion here, and we are very pleased to bring Alexandra on board; her expertise and energy will help us bring the best product offering to our clients."
Hélène Virello, Head of collateral management at BNP Paribas Securities Services, added: "We have seen increasing demand from clients to support them with a solution through the entire transaction process -- from trade capture to reporting, including liquidity solutions. Collateral Access allows our clients to be fully compliant with new regulations through limited investments and within a short timeframe. We work with an open model, interfaced with multiple counterparties, clearers, custodians and market infrastructures. It has been carefully designed to address the challenges facing the industry in the years to come. Collateral Access comprises a set of modules available on a standalone basis or together with BNP Paribas Securities Services' existing products."
About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in nearly 80 countries with 190,000 employees, including 145,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.
About BNP Paribas Securities Services
BNP Paribas Securities Services (http://securities.bnpparibas.com/jahia/Jahia/site/portal), a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by the strength of a universal bank. It provides integrated solutions to all participants in the investment cycle including the buy-side, sell-side, corporates and issuers. Covering over 100 markets, with our own offices in 34 countries, the BNP Paribas network is one of the most extensive in the industry. We bring together local insight and a global network to enable clients to maximize their market and investment opportunities worldwide. Key figures as of 30 September 2013: USD 7,708 billion assets under custody, USD 1,355 billion assets under administration, 6,979 administered funds and 7,900 employees
The information contained within this document ('information') is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas Securities Services' judgment and are subject to change without notice. BNP Paribas Securities Services and its subsidiaries shall not be liable for any errors, omissions or opinions contained within this document. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For the avoidance of doubt, any information contained within this document will not form an agreement between parties. Additional information is available on request.
BNP Paribas Securities Services is incorporated in France as a Partnership Limited by Shares and is authorised and supervised by the ACPR (Autorité de Contrôle Prudentiel et de Résolution ) and the AMF (Autorité des Marchés Financiers).
BNP Paribas Securities Services, London branch is authorised by the ACPR, the AMF and the Prudential Regulation Authority and is subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority and regulation by the Financial Conduct Authority are available from us on request. BNP Paribas Securities Services, London branch is a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited (a wholly owned subsidiary of BNP Paribas Securities Services), incorporated in the UK is authorised and regulated by the Financial Conduct Authority.
In the U.S., BNP Paribas Securities Services is a business line of BNP Paribas which is incorporated in France with limited liability. Services provided under this business line, including the services described in this document, if offered in the U.S., are offered through BNP Paribas, New York Branch, 787 Seventh Avenue, New York, New York 10019 (which is duly authorized and licensed by the State of New York Department of Financial Services) or if a securities product, through BNP Paribas Securities Corp. or BNP Paribas Prime Broker, Inc., each of which is a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC and the Financial Industry Regulatory Authority.