BNP Paribas Securities Services (BNP Paribas) is forging ahead with Henderson Global Investors (Henderson) in managing the integration of the assets acquired from New Star Asset Management (New Star). The integration of the middle office, which involved GBP7.6 billion in assets across 114 funds, including retail funds and institutional mandates, is already finalised and completed.
Earlier, in February this year, BNP Paribas was appointed by Henderson as exclusive service provider for its investment operations and related banking services, excluding services for hedge funds.
Andrew Formica, CEO of Henderson Group, said: As we look to grow our business both organically and through acquisition it was imperative that we found a service provider that was able to act as a partner as well as a provider to help us achieve this. By facilitating and managing New Star’s integration, BNP Paribas has proved that it has all the necessary components to partner with us in our continued growth and development ambitions.
Patrick Colle, head of BNP Paribas Securities Services in the UK, said: We are delighted to have successfully supported Henderson in this strategic transaction. The New Star integration marks a new key step in our partnership with Henderson and our asset servicing strategy in the UK.
Henderson Global Investors acquired New Star Asset Management in April this year to create Henderson New Star, its UK retail business, which offers investors equities, fixed income, multi-manager, commercial property and sustainable and responsible investment services.
