LONDON – 15 July 2013 – BNP Paribas Securities Services (BNP Paribas), a global custodian with over USD7 trillion assets under custody, today announced that it has successfully completed the final stage of the migration of a large number of Henderson funds on to its platform. In total, this complex project has required the migration of 25 legacy Gartmore funds with an approximate value of EUR 8 billion in three stages and incorporating multiple jurisdictions and fund types.
BNP Paribas was awarded this business on the basis of its strong client relationship and high quality services, which it has provided to Henderson since 2002. Having now completed the final stage of the migration, BNP Paribas will provide Henderson Global Investors (HGI) with a full service including custody, fund accounting, securities lending and foreign exchange services for the former Gartmore fund ranges in the UK and in Luxembourg.
James McAleenan, head of BNP Paribas Securities Services UK, Middle East and South Africa said: “We’re very pleased with the outcome of this deal, which is the culmination of collective efforts across different areas within the business and across a number of markets. It reinforces and consolidates our long-standing relationship with Henderson, which we have developed over the last ten years. We have a very good understanding of their business and their operational objectives, and this is crucial to our ability to maintain high quality service levels we provide and to build on for the upcoming projects planned in 2014.”
Lesley Cairney, the Henderson chief operating officer said: “This project is the culmination of over 12 months work between the two project teams and has been delivered to an exceptionally high standard without any impact to our day-to-day service and activities.”
Sarah Decottegnie, BNP Paribas Securities Services Press Officer
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Andrew Achimu, BNP Paribas Group Press Office
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About BNP Paribas
BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 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.
About BNP Paribas Securities Services
BNP Paribas Securities Services, 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 31 March 2013: USD 7,113 billion assets under custody, USD 1,314 billion assets under administration, 6,979 administered funds and 7,900 employees
About Henderson Global Investors
Henderson Global Investors, wholly-owned by Henderson Group plc, is an international investment company with a strong reputation going back to 1934. Henderson manages £68.9 billion (as at 31 March 2013) assets on behalf of clients in Europe, Asia-Pacific and North America and employs approximately 1000 members of staff worldwide.
Clients include individuals, private banks, third-party distributors, insurance companies, pension funds, government bodies and corporate entities. As a pure investment manager Henderson offers investments across equity, fixed income and property as well as alternative products, such as private equity and hedge funds.
BNP Paribas Securities Services is a société en commandite par actions (partnership limited by shares) incorporated in France, with limited partners with limited liability and one general partner with unlimited liability, with its registered office at 3, rue d’Antin – 75002 PARIS – Paris Trade Register B552 108 011 RCS.
BNP Paribas Securities Services is authorised and supervised by the Autorité de Contrôle Prudentiel (ACP) and by the Autorité des Marchés Financiers (AMF). BNP Paribas Securities Services London branch is authorised by and subject to limited regulation by the Financial Services Authority for the conduct of its investment business in the United Kingdom; details on the extent of our regulation by the Financial Services Authority are available from us on request. BNP Paribas Securities Services London Branch is also a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited and Investment Fund Services Limited are authorised and regulated by the Financial Services Authority.BNP Paribas Securities Services, London Branch is registered in England and Wales under No. FC023666.
The services described in this document, if offered in the U.S., are offered through BNP Paribas and its subsidiaries and affiliates. Securities products are offered through BNP Paribas Securities Corp., a subsidiary of BNP Paribas, a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC, the Financial Industry Regulatory Authority, the New York Stock Exchange and other principal exchanges.