BNP Paribas Securities Services, a global custodian with almost USD 7 trillion in assets under custody, yesterday announced its move to new offices in Dublin, located at Trinity Point, South Leinster Street. The inauguration is supported by Department of Jobs, Enterprise and Innovation through IDA Ireland.
BNP Paribas Securities Services in Ireland has operated as a centre of excellence for the servicing of investment funds since 2001, offering a wide range of solutions including global custody and fund administration.
Patrick Colle, CEO of BNP Paribas Securities Services, said: “2013 marks BNP Paribas 40th anniversary in Ireland. These new premises demonstrate our continued commitment to Ireland as a servicing centre for both UCITS and alternative investment funds. Dublin forms an integral part of our Securities Services global operations, which we will continue to develop in the years ahead.”
Minister Richard Bruton TD, Department for Jobs, Enterprise and Innovation, commented: “International financial services is a sector targeted under the Government’s Action Plan for Jobs, and we believe that with the correct supports we can continue to attract leading players in the financial services sector such as BNP Paribas and drive major jobs growth in this sector. I would like to wish BNP Paribas continued success in Ireland.”
Barry O’Leary, CEO IDA Ireland, said: “Ireland has long been an attractive destination for servicing the funds of international investment managers, and the commitment of global financial institution such as BNP Paribas further highlights Ireland’s competitiveness as a fund centre.”
BNP Paribas Securities Services launched a BNP Paribas Group-sponsored investment programme in 2010 in Dublin to enhance operational capability for traditional and alternative managers on a shared technology platform; the premise of this initiative being to encapsulate the research, development and innovation efforts undertaken locally for clients.
In 2011, BNP Paribas Securities Services partnered with the IDA Ireland to launch a Dublin-based research initiative focusing on asset administation, known as the “Alternative Fund Lab”, which will now be housed in the new premises.