Under the terms of the deal, RBS International Securities Services will be integrated into BNP Paribas Securities Services and will continue to provide fund administration, global custody and corporate trustee services to its clientele of fund managers and managers of private wealth clients.
With over 175 employees based in Jersey, Guernsey and the Isle of Man, current assets under custody total in excess of GBP35 billion, while assets under administration amount to GBP6.4 billion.
The acquisition, which was finalized on June 29, 2007, completes BNP Paribas Securities Services’s coverage of the UK offshore markets and leverages its service capabilities for offshore funds.
