BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, has formed an agreement with ConvergEx, to introduce their transition management services to its clients.
Reportedly, the transition management enables asset owners and managers to restructure their investment portfolios as a result of geographic reallocation. The company has added that the process ensures the transition is completed in a risk controlled manner, with a specific trading strategy developed and implemented by the transition manager. BNP Paribas’ agreement with ConvergEx is expected to bring together the operational services of BNP Paribas and the transition management services of ConvergEx.
Simon Walker, deputy head global custody product management at BNP Paribas, said: “The alliance with ConvergEx provides our clients with the knowledge that their transition management activity will be managed within the framework of agreed operational procedures, ensuring the efficient settlement of securities and cash transactions as well as pre-execution planning and a streamlined portfolio handover to the incoming fund manager.”
Kal Bassily, head of global transition management at ConvergEx, said: “ConvergEx’s full range of technological trading capabilities and access to substantial liquidity allow our seasoned professionals to execute and manage risk effectively for clients.”
ConvergEx, provides investment technology solutions and global agency brokerage services to institutional clients worldwide.
