BNP Paribas Securities Services has acquired a strategic stake in asset servicer AssetMetrix to bolster its private capital business.
Financial details of the transaction were not disclosed.
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With this alliance, BNP Paribas Securities Services seeks to further digitalise its services to private capital clients and investors.
The AssetMetrix technology will enable BNP clients to utilise analytics and reporting tools for assessing non-listed investments. The integration is said to improve risk monitoring as well as expedite decision making.
Additionally, it will allow asset manager clients to offer end investors greater oversight over their investments.
BNP Paribas Securities Services head of Strategic Business Development and Transformation Philippe Benoît: “This partnership is an excellent example of the work we are doing with leading fintechs to expand and digitalise our offering and give our clients access to the latest technologies.
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By GlobalData“It also highlights our commitment and capacity to continually develop our multi-asset class offering to meet our clients’ changing needs.”
AssetMetrix founder and managing director Emmeram von Braun said: “This strategic partnership with BNP Paribas Securities Services is an important next step to further develop our independent platform and associated services.
“It is also an opportunity for us to continue to expand in Europe and enter the Asia-Pacific markets.”
Part of French banking group BNP Paribas, BNP Paribas Securities Services offers custodian and securities services globally.
In Q3 2019, the wealth and asset management arm of BNP Paribas reported a pre-tax income of €170m, a 19% jump from the corresponding quarter last year.
