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BNP Paribas wins government custody work

BNP Paribas wins government custody work

(19 October 2004 – Australia) BNP Paribas Securities Service has been appointed by the Office of the Protective Commissioner to provide custody and investment administration services, including accounting, tax and statutory reporting. Established in 1985 as part of the NSW Attorney General’s Department, the OPC protects and administers the financial affairs of people who are unable to make their own financial decisions.

The OPC liaises with legal and financial organisations and advises people on managing a business and investing.

BNP Paribas Securities Services head of Business Development, Chris Briant, said the appointment was OPC’s first full outsourcing arrangement and that it was crucial their provider understood the requirements and was able to meet their unique needs.

"At a time when our major competitors are downsizing, we continue to grow through a number of recent Investment Manager outsource and Master Custody wins," Briant said.

"OPC presents BNP Paribas with the opportunity to strengthen our market positioning as a leading provider of value added investment administration services to financial institutions in Australia and New Zealand," he said.

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