BNP Paribas is delighted to be a Silver Sponsor of the 48th New York City Pride March, which will be held on Sunday, June 25. This is the second straight year the Bank will serve as a sponsor of the parade in partnership with White & Case LLP, a global law firm.
The sponsorship is part of BNP Paribas’ commitment to promoting Diversity & Inclusion worldwide. In New York, the Bank will host a pre-parade brunch for clients and employees, after which all attendees are invited to march in the parade alongside the BNP Paribas float. BNP Paribas will also participate in Pride festivities in London, Paris and San Francisco, among others.
For more on the Bank’s global Diversity & Inclusion efforts, click here.
BNP Paribas Securities Services, a leading global custodian, commissioned TABB Group to identify the technology trends shaping our industry
NEW YORK, June 20, 2017 – Custodian banks are embracing emerging technology like blockchain and big data analytics to help clients in their digital transformation, according to a new TABB Group report “Safekeeping Empowered: Reimagining the US Custody Business.”
Commissioned by BNP Paribas Securities Services, a leading global custodian, TABB Group’s research team interviewed a select group of sell-side senior executives (COOs, heads of operations and heads of technology) at mid-sized banks and brokers in the US regarding their technology priorities and their expectations from custodians.
“As a top five global custodian, staying ahead of market developments is crucial, so we worked with TABB Group to identify the technology trends that are shaping our industry in the US market,” said Bruno Campenon, Head of Financial Intermediaries & Corporate Client Line, BNP Paribas Securities Services. “The survey results validate that the advanced technologies we are already developing globally, such as distributed ledger technology and artificial intelligence, position us well to help our clients succeed in a changing digital landscape.”
Strategic Priorities of the Sell-Side
The priorities of the sell–side consumers of custody services, particularly mid-sized banks and brokers, are driven by the need to achieve value, comply with regulation, aggregate data and reduce costs. When asked about their most important technology initiatives, respondents rated cybersecurity (19%), the need for a client-driven user interface (19%) and data aggregation across the enterprise (15%) as their top priorities.
In addition to their technology development projects, respondents were also asked about their non-technology priorities. Regulatory compliance (22%) ranked number-one overall, with achieving operational efficiencies to create an automated operating model (20%) and data quality (15%) were also noted.
Looking ahead, over the next five years, respondents expect their own operational efficiency to be impacted most by blockchain and distributed ledger technology (66%), regulatory technology to help firms better navigate regulatory compliance (60%) and big data analytics (33%).
What the Sell-Side Wants
The survey also looked at what mid-tier sell-side custody clients are looking for from their existing service providers and how they believe custodians should be prioritizing new technology to advance their relationships.
When asked what is important when evaluating a custodian, the following ranked most highly: knowledge of the client’s business, easy-to-use technology, strength of balance sheet and reputation for innovation.
When selecting a new custodian, respondents focused on elevated levels of customer service (18%), value in return for their custody fees (18%), operational expertise (16%) and innovative technology offerings (14%).
When asked what specific areas of technology respondents wanted their custodians to invest in, cloud computing and storage where clients might migrate their own applications, digital identity or biometric technologies as part of multi-factor authentication methods to mitigate security risks, and distributed ledger technology ranked highest.
The Future of Custody
U.S. sell-side customers of custody services expect their custodians to keep up with emerging technology trends and automate wherever possible. When asked what aspects of securities servicing they would most like changed in the next three years, 34% noted an ease of regulatory constraints, while 27% noted automation of manual processing. Capital constraints (16%) and collateral optimization (13%) also rated.
“We found that the custody industry is set for transformation in terms of the technology they use, while the focus on customer service reigns supreme,” said TABB Group Senior Analyst Dayle Scher, who authored the report. “Adoption of automation for remaining manual processes, combined with better data analysis, are critical enablers of the high-touch coverage the sell-side so covets.”
An executive summary of the TABB Group Report “Empowering Safekeeping: Reimagining the US Custody Business” along with a 90-second video interview with TABB Group Analyst Dayle Scher and Bruno Campenon of BNP Paribas is available.
For more information or to purchase the report, contact info@tabbgroup.com.
About TABB Group
TABB Group is the international research and consulting firm focused exclusively on capital markets. For 14 years, TABB Group has been helping business leaders gain a truer understanding of financial markets issues to develop actionable roadmaps and approaches to future growth. By accurately assessing their customer base, competition, and key market opportunities, TABB Group works with senior industry leaders to make critical decisions about their business. For more information, visit www.tabbgroup.com.
About BNP Paribas Securities Services (http://www.securities.bnpparibas.com/)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximize their investment opportunities worldwide.
Contacts:
| For TABB Drew Seldin +1 (646) 747-3231/ dseldin@tabbgroup.com |
For BNP Paribas Jamie Somohano +1 (212) 841-2406/ jamie.somohano@us.bnpparibas.com |
BNP Paribas today announced a settlement with the New York State Department of Financial Services (DFS) relating to its investigations into past misconduct in BNP Paribas’ foreign exchange business.
Under this settlement, BNP Paribas will pay a fine of USD 350 million (approximately 310 million euros) which will be covered by existing provisions.
In reaching this settlement, the DFS acknowledged the Group wide remediation initiatives and the full cooperation of BNP Paribas in the investigation.
The conduct which led to this settlement occurred during the period from 2007 to 2013. Since this time, BNP Paribas has proactively implemented extensive measures to strengthen its systems of control and compliance. The Group has increased resources and staff dedicated to these functions, conducted extensive staff training and launched a new Code of Conduct which applies to all staff.
BNP Paribas deeply regrets the past misconduct which led to this settlement, which was a clear breach of the high standards on which the Group operates.
Conducting its business in a responsible and ethical manner is a cornerstone of BNP Paribas’ values and the Group will continue to make improvements to ensure that it delivers on its responsibilities to all its stakeholders.
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.
BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Press Contacts
Bertrand Cizeau +33 1 42 98 33 53
Julia Boyce +33 1 43 16 82 04
Coralie France-Savin + 33 1 40 14 94 89
Sarah Worsley +33 1 40 14 65 14
Alexandra Umpleby +44 20 75 95 2436
Cesaltine Gregorio +1 212 841 3719
During April 2017, top student newspapers from across the U.S., Europe and Asia will bring attention to young people addressing problems on their campuses, in their communities, and around the world.
April 10 was Impact Journalism Day Universities, an initiative sponsored by BNP Paribas, during which school newspapers highlight student initiatives making a difference.
Through high quality, in-depth articles about projects managed by students, this alliance of student newspapers aims to open the eyes of their generation to positive action they can take right now. From teaching each other how to use computer science for social good, to creating platforms that crowdfund for university fees, to providing peer support for mental health, to sharing education with refugees, these stories show that students are actively challenging the notion that nothing can be done.
Impact Journalism Day Universities is a replica of Sparknews’ international solutions journalism event, Impact Journalism Day, which unites a coalition of international newspapers to report on innovative solutions to global issues and expose readers to stories that can inspire positive change.
Great universities around the world are participating, like Oxford, Princeton, Stanford, University of California at Berkeley, andSciences Po in Paris.
Click here to see the introduction video of the initiative
Click here to vote for your favorite story
In 2015, the Heritage and Historical Archives Department of BNP Paribas has launched their website, Well of History, that brings together hundreds of documents, films, annual reports, posters, and thematic articles about the history of the Group.
The second episode of the U.S. saga has just been published, providing an overview of our history in the United States of America: “The French American Banking Corporation, a French bank in America“.
“After opening its first office in San Francisco in 1877, the Comptoir national d’escompte de Paris wanted to expand its presence in the United States. The goal became a reality in 1919 with the founding of the French American Banking Corporation (FABC).”
You can also read the first episode that was about the origins of the BNP Paribas story in the US.
It’s already been a week at the BNP Paribas Open (#BNPPO17) at Indian Wells, California. On Day 7, fans flocked to the grounds to watch superstars Rafael Nadal, Roger Federer and Novak Djokovic hit the courts with a combined 12 Indian Wells titles between the three of them. The fans didn’t leave disappointed, as all three advanced to the next round, as did Women’s No. 3 seed Karolina Pliskova and No. 5 seed Dominika Cibulkova.
Stay up-to-date on news and results from Indian Wells by checking out any of the social media platforms below. You can access all the best content each day, including match highlights, press conference interviews, behind-the scenes looks and features from around the grounds.
Youtube
Snapchat
- @bnpparibasopen
BNP Paribas Open Mobile App
(Available on the App Store and Google Play)
While everyone in Palm Spings is preparing for the 2017 BNP Paribas Open, which begins Tuesday, March 7, Bloomberg’s Gerald Marzorati explains why he believes the tournament “is the most resplendent place on earth to watch tennis.”
“For pure tennis joy, nothing beats Palm Springs, Calif., in March.”
In addition to the “alluring atmosphere” and breathtaking views, he highlights that the top 10 players on both the men’s and women’s sides are slated to be playing this year, from Serena Williams and Andy Murray to Johanna Konta and Gael Monfils. Those 20 players have won a combined 78 Grand Slam singles titles, as well as 15 singles trophies at the BNP Paribas Open in the past. It makes the 2017 tournament the most coveted of the young season.
Click here to read the article
For more information about the tournament, visit the BNP Paribas Open website.
BNP Paribas has underwritten the Association for Financial Professionals’ (AFP) Executive Guide on Global Transaction Banking, which examines the issues impacting the decision-making process for treasurers in an uncertain business environment worldwide, including appointing new banks and managing existing relationships.
The below article from Craig Martin, director, executive programs and treasury practice lead for AFP, introduces and summarizes the guide.
By Craig Martin
Given the populist movements across the globe, in particular the Brexit vote in the UK, the Trump victory in the United States and the looming elections in France, conducting business around the world is becoming much more complex. Add to that potential trade sanctions and it gets even more difficult. So when a company operates globally, it is incumbent on its treasury group to provide adequate access to liquidity, and that requires maintaining sound banking relationships.
Managing relationships with transaction banks is a central part of a treasury executive’s role. Of all external partnerships, a successful set of bank relationships can have the most positive impact on the effectiveness of a company’s treasury department. Good bank relationships take time to build and nurture, but the investment in time will pay dividends.
The new AFP Executive Guide on Global Transaction Banking, underwritten by BNP Paribas, aims to help treasury practitioners navigate the process of initiating and managing a good set of bank relationships. The guide is structured in three parts. The first part reviews the current global banking environment. It outlines the pressures facing banks and explains why many of them have been reviewing their strategies over recent years. The second part has been designed to support the treasurer’s decision-making process when appointing new banks and managing existing relationships. It assesses the role banks play in supporting a global payments strategy and helps treasurers to identify and manage the counterparty risk associated with a set of global bank relationships. The final part of the guide assesses some of the factors that are already having an impact on the future of global banking. It addresses developments such as blockchain and identifies some of the ways these developments may affect bank relationships in the future.
As with other treasury activities, there is no single correct way to develop bank relationships and no ideal number of core relationships to have. The goal is to have an appropriate number of relationships, in which both the company and the banks achieve their own objectives through strong and collaborative partnerships.
Although there is general agreement that we face an unprecedented global banking environment, it is less clear whether this represents a “new normal” or whether we are simply experiencing an extended period of market upheaval. The first scenario suggests that the banking environment will be in a state of flux for some time to come. The second promises that the current period of uncertainty will come to an end at some point, although precisely when remains difficult to determine.
In a sense, though, it should not matter too much to treasury practitioners which analysis proves to be more accurate. The reality is that the wider global banking industry remains under pressure to reform and restructure their businesses. This will, in turn, continue to have implications for the way individual banks choose to develop their propositions for their corporate clients. For treasury practitioners, this produces a fluid banking environment in which it continues to be difficult to manage bank relationships, with the consequent uncertainty about both the range of products and geographic footprint of each bank.
Given this as a backdrop, managing bank relationships is a highly complex, while vitally important, task. There is no single template or formula to determine the appropriate number of bank relationships. However, it is possible to identify the key factors to help make good decisions.
- The first step is to evaluate your current relationships.
- Next would be to establish your overall banking requirements.
- Then try to standardize the processes as best as possible. This may be difficult as, for example, services common in one market are simply not available in other markets. This can be a result of regulation so that, for example, the availability of different cash pooling techniques can vary significantly between countries.
- And finally, try to identify a target number of key relationships.
In summary, the more the bank knows about a corporation, the better the relationship will be for both parties. Also, treasury needs to be strategically involved. The more the treasurer is focused on establishing good communications with the banks, the better their ability to react in the current rapidly-changing environment.
Download a complimentary copy of the AFP Executive Guide on Global Transaction Banking here.
BNP Paribas Corporate & Investment Banking organized its first-ever Digital Week (#DW17) for employees in January 2017, with events in New York, Montreal, Sao Paulo, Paris and London. By putting the latest trends in digitalization under the spotlight, we explored how the Bank can harness the latest technologies to create new business opportunities and new ways of working.
To read more about the brave new digital world at BNP Paribas CIB, click here.
BNP Paribas Securities Services, a leading global custodian with over $9 trillion in assets under custody, today announced the appointment of Claudine Gallagher as Head of its Americas region. 
Gallagher added Latin America to her existing mandate as Head of Securities Services North America, effective January 2017. In this expanded role, Gallagher assumes responsibility for driving growth across the entire Americas region, including the execution of global segment and product strategies.
“Throughout the past five years, Claudine has been instrumental in building our U.S. capabilities. With her leadership, we will continue to strengthen our presence across the Americas,” said José Placido, Global Head of Client Development at BNP Paribas Securities Services. “This is our latest step to support clients’ ambitions in this high-potential region and make the most of our collective strengths.”
Since 2010, BNP Paribas Securities Services has rapidly expanded in the Americas, launching local custody and clearing in the United States, Brazil, Colombia and, most recently, Peru.
Alvaro Camuñas, who previously led BNP Paribas Securities Services’ development in Latin America, was appointed Global Head of Sales and Global Relationship Management last year.
Andrea Cattáneo and Claudia Calderón – the country heads of Brazil and Colombia, respectively – will join the regional Executive Board, reporting directly to Gallagher.
Figures as at 31 December 2016
About BNP Paribas Securities Services
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With offices in 34 countries and a global reach covering over 95 markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
Press Contacts
Cesaltine Gregorio
cesaltine.gregorio@us.bnpparibas.com
+1 212 841 3719
BNP Paribas Americas on Twitter: @BNPPAmericas
BNP Paribas Securities Services on Twitter: @BNPP2S