BNP Paribas Securities Services has renewed its tender with Caisse des Dépôts to provide custody account-keeping services.
BNP Paribas Securities Services will provide custody delegation and related services to the French public sector pension fund – such as issuing and paying agent services and clearing of listed derivatives – for the next six years, with a further option to extend the agreement to 10 years.
Caisse des Dépôts said the partnership addresses the asset safety requirements of the firm and its clients, who will benefit from the operational efficiency and resilience offered by BNP Paribas Group’s financial strength and integrated banking model.
Patrick Colle, general manager of BNP Paribas Securities Services, said: “We share many common values with Caisse des Dépôts, including the drive to play a positive role in the economy and society at large. We are pleased that the relationship between our two institutions continues to grow and will use our integrated banking model to help Caisse des Dépôts fulfil its public interest mission.”
The announcement follows hot on the heels of the news that BNP Paribas Securities Solutions has invested $6 million into digital voting proxy voting platform Proxymity, which is being widely adopted across the securities services industry.