After Aberdeen Asset Management (AAM) has purchased a large part of the Credit Suisse Global Investor (CSGI) business in December 2008, AAM and BNP Paribas have built on their strategic relationship to deliver a joint operating model for the newly integrated AAM/CSGI business.
In total seven migrations have been planned and executed on schedule. The first of these took place in April 2009 for the Singapore based funds. The largest was successfully delivered in October when BNP Paribas moved 155 portfolios from Credit Suisse Asset Management to the AAM/BNP Paribas joint operating model.
The portfolio scope covered the US, the UK, Hungary, France, Japan and Australia, delivering custody, middle office, fund accounting, client reporting, performance, attribution and global investment performance standards.
Martin Gilbert, CEO of AAM, said: “This was without question one of the most complex migrations we have undertaken to date. Given this complexity it is a notable achievement that the project hit all the key milestones. The efficient global operating model and the strength of the strategic relationship between Aberdeen and BNP Paribas made this possible.”
Patrick Colle, head of BNP Paribas Securities Services UK said: “A huge effort from the joint partnership achieved this in only 11 months from project initiation to closure. We are delighted that the migration has gone smoothly and to have supported AAM in this strategic initiative.”
