Paris, March 18, 2022
BNP Paribas Securities Services and CACEIS plan to create a new specialist provider of issuer services
BNP Paribas Securities Services and CACEIS have signed a draft agreement to consolidate their services to issuers within a joint venture owned equally by the two banks.
The two groups intend to create a leading service provider to equity issuers. This would involve operational services such as keeping shareholder registers, organizing and centralizing general meetings, setting up and centralizing financial operations, managing employee shareholding plans.
This partnership would mark an important step in the development of business services, allowing BNP Paribas Securities Services and CACEIS to pool their investments and offer this clientele a renewed and enhanced range of services.
Patrick Colle, General manager of BNP Paribas Securities Services, said: “We are delighted with this proposed association with CACEIS to create a leading service provider dedicated to issuers of shares. In a complex and constantly changing environment, issuers of securities need scalable services. This ambitious project underscores our commitment to our issuer clients.”
Jean-François Abadie, CEO of CACEIS, said: “This agreement illustrates our ability to develop strong industrial partnerships allowing the creation of leaders in our businesses. Our joint venture with BNP Paribas Securities Services will create a major player in issuer services and will offer its clients a wide range of products that meet the best market standards.”
The transaction is expected to be finalized at the end of 2022 subject to the required consultations and the authorization of the various competition and regulatory authorities. Services to issuers will continue to be provided separately by BNP Paribas Securities Services and CACEIS, until the operational start of the joint venture.
This draft agreement covers the specialized area of issuer services. The other service offerings of BNP Paribas Securities Services and CACEIS are not affected.
BNP Paribas Securities Services
Caroline Lumley [email protected] +44 (0)20 7410 4650
Claude Michaux [email protected] +352 47 67 27 92
About B.NP Paribas Securities Services (titles.cib.bnpparibas)
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, is one of the world’s leading providers of custody and securities services. Leveraging the strength of the BNP Paribas Group, we offer multi-asset post-trade and asset management solutions to buy and sell market participants, corporates and issuers. With a global reach spanning over 90 markets, our network is one of the most extensive in the industry, enabling clients to maximize their investment opportunities worldwide.
About CACEIS (www.caceis.com)
CACEIS is a banking group, jointly owned by Crédit Agricole and Santander, and specialized in financial services for asset management companies, insurance companies, pension funds, banks, private equity funds and real estate, brokers and large corporations.
CACEIS is present in Europe, North America, South America and Asia and offers a full range of products and services: execution, clearing, foreign exchange, securities lending, custody, custodian and fund administration, distribution support funds, middle-office solutions, and issuer services.
The information contained in this document (“information”) is believed to be reliable but BNP Paribas Securities Services does not warrant its completeness or accuracy. The opinions and estimates contained in this document constitute the judgment of BNP Paribas Securities Services and are subject to change without notice. BNP Paribas Securities Services and its subsidiaries cannot be held responsible for any errors, omissions or opinions contained in this document. This material is not intended to be an offer or solicitation to buy or sell any financial instrument. For the avoidance of doubt, any information contained herein will not constitute an agreement between the parties. Additional information is available upon request.
BNP Paribas Securities Services is incorporated in France as a partnership limited by shares and is authorized and supervised by the European Central Bank (ECB), the ACPR (French Prudential Control and Resolution Authority) and the AMF ( Financial Markets Authority).
In the United Kingdom, BNP Paribas Securities Services is authorized and regulated by the European Central Bank and the French Prudential Control and Resolution Authority. Deemed authorized by the Prudential Regulatory Authority and with deemed modification of authorization. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Authorizations scheme, which allows companies based in the EEA to operate in the UK for a limited period while applying for full authorisation, can be found on the Financial Conduct Authority’s website. BNP Paribas Securities Services London Branch is registered in the United Kingdom under number FC023666. UK Establishment Number: BR006393. UK Settlement Office Address: 10 Harewood Avenue, London NW1 6AA.
In the United States, BNP Paribas Securities Services is a business line of BNP Paribas incorporated in France with limited liability. Services provided under this line of business, including the services described herein, if offered in the United States, are offered by BNP Paribas acting through its New York branch (duly authorized and licensed by the New York State Department of Financial Services) or BNP Paribas Financial Services LLC, a limited liability company governed by the laws of the State of Delaware; in the case of a securities product, through BNP Paribas Securities Corp. who is a registered broker-dealer with the Securities and Exchange Commission and a member of the SIPC and the Financial Industry Regulatory Authority; or if it is a futures product through BNP Paribas Securities Corp., a futures commission merchant registered with the Commodities Futures Trading Commission and a member of the National Futures Association