Aviva Investors France has mandated BNP Paribas Securities Services for the administration of collateral for its sale and repurchase agreements.
Under this new mandate, BNP Paribas will support Aviva to develop its repo activities in a constantly changing regulatory environment.
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Christian Dormeau, CEO of Aviva Investors France, said: "Monitoring counterparty risk, which is a central topic of debate in the market, is also an essential component of our asset management strategy. Given the strong growth of our repo activity, we wanted to outsource to an efficient, responsive service provider who would maintain Aviva Investors France’s high standards for monitoring and managing the risks related to its commitments."
Helene Virello, head of collateral management at BNP Paribas Securities Services, says: "This new mandate confirms our strategy of expanding our collateral management services for various underlying assets aside from bilateral OTC derivatives. These include repurchase agreements and cleared OTC derivatives."
"We focus on developing partnerships with clients, allowing us to remain close to their strategies and tailor our solutions. We are proud to be supporting Aviva Investors France’s development strategy, while meeting the challenges of new regulatory requirements for collateral management," Virello added.
Aviva Investors France is the global asset management arm of Aviva Group. Founded in 2008, it operates in 15 countries, with assets under management of GBP274 billion at 30 September 2012.
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