La banque d'un monde qui change 2004 - BNP Paribas

72asset management and services73BNP Paribas Securities Services continuedto expand in 2004, in terms of:• market coverage:- extension of local custody services to Austriavia the bank’s Frankfurt branch;- direct access to the derivatives marketin the Netherlands, Spain and Portugal.• new products:- new middle and back-office outsourcingcapability in Zurich for member firmsof the Swiss Stock Exchange;- foreign exchange services for global custodyclients were enhanced;• outsourcing services for asset managers grewsignificantly, notably via landmark transactionswith BNP Paribas Asset Management in Franceand Spain.A powerful network combinedwith a unique local expertiseWith its local presence, specific knowledge ofeach market and technical expertise, BNP ParibasSecurities Services is able to provide its clientswith the most efficient business solutions.Success in Germany withthe Mellon Bank NA mandateFollowing a Request for Proposal processwhere five competitors were asked totender, Mellon Bank NA selectedBNP Paribas Securities Services Frankfurtas its sub-custodian in Germany.Leveraging on the good relationshipalready established with Mellon Bank NA,in Belgium, France and Italy, BNP ParibasSecurities Services won the businessthanks to the quality and competitivenessof its service offering.Industry recognition of BNP Paribas SecuritiesServices was again forthcoming in 2004.For the fifth year in succession the firm wontwo key industry awards: “Best Regional Custodian– Europe” from Global Investor magazine and“Best Overall Network” from GSCS Benchmarks.Custody operations in eight countries were classedas “Top Rated” in the annual survey conductedby Global Custodian magazine.Unified by its new slogan, “The closer, the better”,with a new, streamlined organisation thatplaces clients even more firmly at the heartof its strategy, a dedicated worldwide team of3,400 specialists and an encouraging pipelineof new business opportunities, BNP ParibasSecurities Services is well positionedfor continuing its development.