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BNP Paribas makes UK acquisition

BNP Paribas makes UK acquisition

(3 July 2007 - UK) After receiving the regulatory green light, BNP Paribas has acquired RBS International Securities Services, which is part of RBS International, the 70:30 joint venture between RBS International and The Bank of New York. BNP Paribas said the acquisition completed BNP Paribas Securities Services' coverage of the UK offshore markets.

RBS International Securities Services has 175 employees based in Jersey, Guernsey and the Isle of Man, and current assets under custody total in excess of £35 billion with assets under administration of £6.4 billion.

The business will be integrated into BNP Paribas Securities Services.

"This deal further enhances our capacity to create and implement solutions for our clients' strategies in the UK offshore markets, which are playing an increasingly important role for many fund managers," chief executive officer of BNP Paribas Securities Services, Jacques-Philippe Marson, said.
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