Banken for en verden i endring The bank for a ... - BNP Paribas

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sThree prestigious contracts in the field of European asset management BNP Paribas securities services BNP Paribas Securities Services (1) is the leading European provider of securities services to companies, asset managers and fi nancial institutions worldwide. BNP Paribas Securities Services provides innovative solutions that can be tailored to the specifi c needs of clients at every stage of the investment cycle: • fi nancial intermediaries (banks, broker-dealers) are offered tailored solutions for settlement/ delivery and global custody for all asset classes; • institutional investors (fund managers, insurance companies, pension funds, etc.) have access to a full array of fund administration services, including fund distribution support, transfer agency services, depobank and trustee services, fund accounting, middle-offi ce outsourcing; • performance measurement and attribution analysis; extensive issuer services are provided to companies for transaction structuring and shareholder relations management; • additional fi nancing, securities lending and currency solutions are offered and coordinated by specialist teams. As at 31 December 2006, assets under custody totalled EUR 3,614 billion and assets under administration EUR 623 billion, with 32.2 million transactions settled in 2006. BNP Paribas Securities Services is ranked no. 1 among European custodians and 4th worldwide for cross-border assets (source: Institutional Investor Magazine, September 2006). Over half of BNP Paribas Securities Services’ operations are outside France. The business is present in all the main European countries — including Germany, Belgium, Spain, Greece, Ireland, Italy, Jersey, Luxembourg, the Netherlands, Portugal, Switzerland, the United Kingdom — as well as in Australia, New Zealand, Turkey (where it operates through an agreement with Garanti Bank), Japan and the United States. Buoyant sales and marketing momentum with geographic expansion In 2006, BNP Paribas Securities Services strengthened its leading position in Europe and enhanced the range of services offered in its other markets. The entire product range enjoyed strong demand and the winning of several prestigious mandates deepened the pool of highpotential clients. By the end of the year, BNP Paribas Securities Services had signifi cantly broadened its geographic coverage. The addition of 14 new markets to the global custody network increased the number of covered countries to 90. BNP Paribas Securities Services and the Equities and Derivatives Department of the Corporate and Investment Banking (CIB) Division have combined their global transaction and custody services with those of Correspondent Clearing Services (CCS) in the United States and are marketing this offering to a broader clientele of American broker-dealers. BNP Paribas Securities Services rolled out its Global Custody service from Switzerland. The extension of this offering is part of an unprecedented pan-European strategy and will provide BNP Paribas Securities Services’ clients with local service, backed by unmatched knowledge of European legal and regulatory environments. (1) BNP Paribas Securities Services includes all securities operations developed by the BNP Paribas Group through BNP Paribas Securities Services, BNP Paribas Fund Services and BNP Paribas SA. BNP Paribas Securities Services provides Bâloise, one of Europe’s leading insurers (CHF 65 billion in assets under management) with global custody and investment administration services adapted to the local markets and legal environments of 16 entities in Europe (Switzerland, Germany, Luxembourg, Belgium, etc). BNP Paribas Securities Services will also act as a depository bank and offer a wide range of cash and liquidity management services. This agreement directly positions the Zurich branch among the top providers to Swiss institutional investors. ING Luxembourg and ING Investment Management (ING) outsourced to BNP Paribas Securities Services their fund administration activities and investment compliance monitoring of ING funds domiciled in Belgium and Luxembourg, which represent EUR 33 billion in assets under administration. This transaction improves effi ciency and further enhances the operational excellence of ING’s fund administration operations. It also entails the transfer of roughly 60 persons from the ING Luxembourg unit to BNP Paribas Securities Services. In the United Kingdom, BNP Paribas Securities Services migrated Aberdeen Asset Management’s middle-office and back-offi ce functions, following the latter’s purchase of Deutsche Asset Management’s fund management activities in 2005.
BNP Paribas Securities Services acquired the third-party securities clearing and settlement business of Bankhaus Carl F Plump in Germany, an entity of the MM Warburg group specialised in asset management and private banking. This acquisition positions BNP Paribas Securities Services among the top three providers to German brokerage fi rms and banks specialised in securities trading. More than ten new services have also been launched in response to changes in client requirements, among them: • securities clearing on behalf of London Stock Exchange member fi rms; • a fund administration outsourcing solution in Germany; • following the example of France and Italy, the capacity to locally manage alternative funds in Spain; • signifi cant enhancement of the performance measurement and analysis offering including a customised analysis of transaction costs for German institutional investors and improved performance attribution in relation to the interest rate and currency market; • remote access to the central custodian facility in Cyprus from the Athens branch; • a four-party collateral management offering; • administration of international securitisation vehicles. Industry recognition was again forthcoming in 2006, with BNP Paribas Securities Services winning the following awards: • “Fund administrator of the year” (Funds Europe magazine) for the second year running; • “Best Agent Bank“ (Global Custodian magazine) and “Best Sub-Custodian“ (Global Finance magazine) for western Europe, “Best Regional Sub-Custodian“ for northern and southern Europe (ICFA); • “Top Rated” for its local custody services in eight European countries in the annual survey conducted by Global Custodian magazine; • “Most innovative securities services provider in Europe”, one of the “Leaders in innovation” awards, (Financial-i magazine). Lastly, for the sixth consecutive year, BNP Paribas Securities Services’ fund administration operations and mutual funds France custodian function won ISO 9001 certifi cation. Sales and marketing momentum in Italy In Italy, BNP Paribas Securities Services won the depository bank mandate for the Italian post office’s asset management company (Banco Posta Fondi SGR), which from January 2007 will enjoy an extended range of services including the calculation of the funds’ liquidated value. BNP Paribas Securities Services selected to be EDF’s custodian BNP Paribas Securities Services was mandated by EDF to provide custody and valuation services and to measure the performance of the portfolio of assets dedicated to the dismantling of nuclear power plants. This new mandate strengthens relations between the EDF group and BNP Paribas Securities Services which had already been providing issuer services to this leader in the distribution and sale of electricity in Europe. 72-73 ASSET MANAGEMENT AND SERVICES
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Annual report 2006 The bank for a c
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key figures Net banking income (in
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chairman’s and chief executive of
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outlook FRENCH RETAIL BANKING For 2
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executive committee Pierre Mariani
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corporate governance a b c d e f g
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j. Jean-François Lepetit Elected o
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s Changes in shareholder structure
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Jan. 05 Feb. 05 Mar. 05 Apr. 05 May
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s BNP Paribas uses two methods to m
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Shareholder Liaison Committee After
Page 24 and 25: s All resolutions proposed to the s
Page 26 and 27: promoting innovation BNP Paribas ha
Page 29 and 30: CORPORATE AND INVESTMENT BANKING GL
Page 31 and 32: e The Equities and Derivatives busi
Page 33 and 34: over 250 professionals are active o
Page 35 and 36: cCORPORATE AND INVESTMENT BANKING c
Page 37 and 38: • It was also a record year for p
Page 39: cash management Within Corporate an
Page 42 and 43: individual clients Powerful drive t
Page 44 and 45: entrepreneurs and freelance profess
Page 46 and 47: Regional Trading Rooms Against a ba
Page 49 and 50: INTERNATIONAL RETAIL BANKING AND FI
Page 51 and 52: Cetelem steps up its development in
Page 53 and 54: mortgage financing UCB and its subs
Page 55 and 56: BancWest forged ahead with its deve
Page 57: The Bank also set up operations in
Page 60 and 61: 2006, a benchmark year for the BNL
Page 63 and 64: ASSET MANAGEMENT AND SERVICES The A
Page 65 and 66: • socially responsible products (
Page 67 and 68: France • Long-term asset gatherin
Page 69 and 70: Developing integrated technology pl
Page 71 and 72: Property Management In commercial r
Page 73: Revenues generated by the protectio
Page 77: BNP PARIBAS PRINCIPAL INVESTMENTS B
Page 80 and 81: a Responsibility based on core valu
Page 82 and 83: a An integrated approach The Group
Page 84 and 85: human resources development The peo
Page 86 and 87: Non-discrimination and the promotio
Page 88 and 89: Awareness-raising and training r Di
Page 90 and 91: a partner in society A deepening co
Page 92 and 93: p Youth outreach programs BNP Parib
Page 94 and 95: pIt supports international initiati
Page 96 and 97: glossary Accretion ADR (American De
Page 98 and 99: Euronext SA FCP (Fonds Commun de Pl
Page 100 and 101: OPV (Offre Publique de Vente) ORA (
Page 102: Subscription right TBB (Taux de Bas
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Banken for en verden i endring The bank for a ... - BNP Paribas

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