• UN Environment and BNP Paribas have today signed a milestone agreement at the One Planet Summit to establish Sustainable Finance Facilities, collaborative partnerships aimed at raising development capital to drive sustainable economic growth in emerging countries.
  • UN Environment and BNP Paribas will collaborate to identify suitable commercial projects with measurable environmental and social impact, with a target of capital funding amounting to USD 10 billion by 2025 in developing countries.
  • The aim is to support smallholder projects related to renewable energy access, agroforestry, water access and responsible agriculture among other sustainable activities.
  • The Sustainable Finance Facilities programme is the first of its kind in terms of collaboration between companies, investors, development sector partners and civil society organisations, with the support of national governments.

The Memorandum of Understanding was signed today between Erik Solheim, Executive Director of the United Nations Environment Programme and Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas at the One Planet Summit under the patronage of the President of the French Republic, Emmanuel Macron. This landmark agreement is fully in line with both UN Environment’s and BNP Paribas’ commitments to developing meaningful and sustainable projects addressing environmental and social challenges in emerging countries.

This agreement builds on the Tropical Landscapes Financing Facility, a partnership between UN Environment, BNP Paribas, World Agroforestry Centre and ADM Capital in Indonesia.

UN Environment and BNP Paribas will scale the collaborative effort by establishing Sustainable Finance Facilities in many more developing countries, with a target capital funding amount of US$10 billion by 2025.

Through sourcing funding from third-party global investors, and arranging and issuing green loans, Sustainable Finance Facilities will help channel finance from the private sector to fund sustainable economic development in emerging countries.

Projects focused on rural smallholder productivity enhancement, rural renewable electrification and forest landscape restoration and protection will support national climate and sustainable development commitments, build climate resilience and help countries and communities achieve targets for food, water and energy security. Projects will recognise the vital role of relevant stakeholders, in particular women, indigenous peoples and local communities in all areas of sustainable growth and the need for their full and effective participation.

The projects could include the restoration of degraded agriculture landscapes through agro-forestry, the improvement of small-holder agriculture or renewable energy investments in rural areas, in particular to replace charcoal. Climate-smart agriculture, stopping deforestation and restoring forests and landscapes at significant scale could together contribute over 30 per cent to the achievement of the Paris Agreement.

BNP Paribas will continue to act as the capital markets adviser and structuring adviser to Sustainable Finance Facilities as they are established, and will bring institutional investor capital to participate in the programme.

UN Environment will ensure that environmental and social impacts of projects are positive and significant, and are at the heart of the work of the Sustainable Finance Facilities.

With this agreement, signed at the One Planet Summit, BNP Paribas reinforces its commitment to bringing pioneering financial solutions at scale and helping the UN achieve the 17 Sustainable Development Goals and advance the 2030 Agenda for Sustainable Development.

Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas, said: “As an international bank, we consider it our duty to contribute to a better future. We have a role to play in leveraging our place at the centre of the economy, where we not only take action ourselves, but also bring diverse players to direct financial capital to projects that address the issue of climate change and more broadly, sustainable economic development. We have a particular responsibility to direct this financing to developing countries and vulnerable populations. While some projects may seem to be on a small scale, we must not forget that collectively, these initiatives can make a considerable difference to improving the environment, biodiversity or social development. This agreement marks a new way for governments, businesses and institutions to work together to co-develop solutions.”

Erik Solheim, Executive Director of the United Nations Environment Programme, said: ““The largest untapped potential for climate action is in how we manage our land and soils. The partnership with BNP Paribas sets a signal to the finance industry that ‘business as usual’ is not an option anymore. We need to design sustainable agriculture and forestry in a way that solves the climate crisis, rather than contributes to it. Right now, less than 3 percent of climate finance, public or private, goes to sustainable land-use – and yet it can be more than 30 percent of the solution. We need a tenfold increase in climate finance that goes to sustainable land-use.”

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.

About UN Environment

UN Environment is the leading global voice on the environment. It provides leadership and encourages partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations. UN Environment works with governments, the private sector, the civil society and with other UN entities and international organizations across the world.

About the TLFF

The Tropical Landscapes Finance Facility (TLFF) aims to ‘leverage private finance for public good’ by scaling up investment in landscapes resulting in enhancing the ‘GDP of the Poor’ achieved through sustainable production of agricultural commodities, and improved smallholder productivity with reduced deforestation in Indonesia.

The TLFF was launched by the Coordinating Minister of Economic Affairs of the Republic of Indonesia on 26 October 2016, based on a partnership between UN Environment, BNP Paribas, ADM Capital and The World Agroforestry Centre, receiving strong support from the Indonesian government to create a mechanism to access and deliver private sector capital enabling the country to meet its significant development and climate targets.  The objective is to support closing the USD 20bn funding gap in Indonesia for projects with significant environmental and social impact which are critical to securing long-term economic prosperity.

Press Contacts

UN Environment
Florian Eisele – Florian.Eisele@unep.org  +352. 691 588 863

BNP Paribas
Julia Boyce – julia.boyce@bnpparibas.com +33 (0)1 43 16 82 04
Coralie France-Savin – coralie.francesavin@bnpparibas.com +33 (0)1 40 14 94 89
Renato Martinelli – renato.martinelli@bnpparibas.com +33 (0)1 58 16 84 99
Claire Helleputte – claire.helleputte@bnpparibas.com +33 (0)1 55 77 89 63

Denver and New York – Janus Henderson Investors (NYSE:JHG, ASX:JHG) today announced that BNP Paribas Securities Services, a leading global custodian with over $10 trillion in assets under custody as of September 30, 2017, will assume responsibility for the majority of Janus Henderson’s back office (including fund administration and fund accounting), middle office and custody functions in the U.S.

As part of this partnership, more than 100 Janus Henderson employees currently providing middle and back office functions in the U.S. will become employees of BNP Paribas. This continuity will support a seamless transition and consistent, high-quality service for clients.

Janus Henderson has a long-standing partnership with BNP Paribas outside of the U.S. with a strong track record of support and service delivery.  This outsourced model will provide a single and consistent global platform to support the global growth of Janus Henderson. The partnership will leverage the broader expertise of BNP Paribas to provide best practice and leading industry approaches to global regulatory and industry issues.

Andrew Formica, Co-Chief Executive Officer at Janus Henderson Investors, said: “The expansion of our partnership with BNP Paribas to include U.S. services is yet another benefit to clients resulting from the merger between Janus and Henderson. BNP Paribas has been an excellent partner since we began our relationship more than 15 years ago.”

Dick Weil, Co-Chief Executive Officer at Janus Henderson Investors, said: “We are excited to announce a partnership that supports the continuity of individuals providing these functions and is expected to provide a seamless transition for clients.”

Clients will benefit from BNP Paribas Securities Services’ expertise in back and middle office services. Janus Henderson fund shareholders will also benefit from lower administration fees and expenses, as a result of the reduction in overall operating costs associated with these functions.

This is an important strategic step for BNP Paribas, providing it with a proven U.S. mutual fund administration and accounting platform, and enabling it to expand its global fund servicing offering.

This partnership is part of BNP Paribas’ 10-year strategic build-out of the firm’s Securities Services business in the U.S., which began with the launch of global and U.S. custody in 2012. BNP Paribas is committed to growing its presence in Denver where one of the firm’s fund servicing hubs will be located.

Patrick Colle, CEO of BNP Paribas Securities Services, said: “We are delighted to further broaden our long-time partnership with Janus Henderson. This is a transformational opportunity for both our U.S. platform and our global funds business.  We are now able to offer a complete multi-asset class, middle-to-back office solution, covering all major markets in the world, including the U.S.”

Claudine Gallagher, Americas Head of BNP Paribas Securities Services, added:  “We are excited to expand our capabilities for asset managers in the U.S. through this partnership, and look forward to providing high-quality service to Janus Henderson and its clients.”

BNP Paribas will pay Janus Henderson net consideration of approximately $36 million for the operations upon closing, which is anticipated for March 2018.

 

About Janus Henderson

Janus Henderson is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, quantitative equities, fixed income, multi-asset and alternative asset class strategies.

As at 30 September 2017, Janus Henderson had approximately US$361 billion in assets under management, more than 2,000 employees and offices in 27 cities worldwide. Headquartered in London, the company is listed on the New York Stock Exchange (NYSE) and the Australian Securities Exchange (ASX).

 

About BNP Paribas Securities Services

BNP Paribas Securities Services, a member of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, BNP Paribas Securities Services provides multi-asset post-trade and asset servicing solutions for buy- and sell-side market participants, corporates and issuers. With a presence in 36 countries and a global reach covering over 90 markets, its network is one of the most extensive in the industry, enabling clients to maximize their investment opportunities worldwide.

 

Janus Henderson Investors Press Contacts

North America
Erin Passan
+1 303 394 7681
erin.passan@janushenderson.com

EMEA
Angela Warburton
+44 (0) 20 7818 3010
angela.warburton@janushenderson.com

Janus Henderson Investors Investor Enquiries
John Groneman
+44 (0) 20 7818 2106
john.groneman@janushenderson.com

 

BNP Paribas Press Contacts   

North America
Jamie Somohano
+1 212 841 2406
jamie.somohano@us.bnpparibas.com

EMEA
Caroline Lumley
+44 (0) 20 7410 4650
caroline.lumley@uk.bnpparibas.com

Simon Danaher
+44 (0) 20 7595 9108
Simon.danaher@uk.bnpparibas.com

American Banker today named Bank of the West and BNP Paribas Leaders to “The Most Powerful Women in Banking and Finance” Awards

  • Nandita Bakhshi, President & CEO of Bank of the West and Co-CEO of BNP Paribas USA, recognized as one of top 25 industry leaders for “The Most Powerful Women in Banking”
  • Claudine Gallagher, Head of BNP Paribas Securities Services Americas, named as one of top 25 industry leaders for “The Most Powerful Women in Finance”
  • Michelle Di Gangi, Head of Bank of the West’s Small and Medium Enterprise Banking, named as one of the top 25 “Women to Watch”
  • Bank of the West also wins “Team Award”

Each year, the Most Powerful Women in Banking and Finance recognizes the professional achievements and influence of the top-performing female executives in banking and financial services. Bank of the West and BNP Paribas are proud to announce that Nandita Bakhshi, President & CEO of Bank of the West and Co-CEO of BNP Paribas USA, along with several leaders within the Bank, were recognized by American Banker’s “Most Powerful Women in Banking and Finance” awards. Named as number four of 25 to “The Most Powerful Women in Banking,” Bakhshi joins a group of outstanding women who are exemplary in leading their institutions within the industry.AB_Echonet

Bakhshi is joined by Michelle Di Gangi, Executive Vice President and Head of Small- and Medium-Size Enterprise Banking for Bank of the West, named to American Banker’s “Women to Watch” list, and Claudine Gallagher, Head of BNP Paribas Securities Services Americas named as one of 25 industry leaders on “The Most Powerful Women in Finance.” Bank of the West was also awarded the “Team Award,” which recognizes teams of visionary female leaders in banking by examining leadership style, professional accomplishments and personal values.

“I am extremely proud of the work our team members have done and continue to do every day and honored to receive this recognition from American Banker,” said Bakhshi. “I have the privilege of working alongside phenomenal leaders every day, and am consistently encouraged by the values they exemplify in their work focusing on our customer needs, innovative solutions and continuous learning. As I look across our organization, each of these women is at the forefront of how we are evolving, and it fills me with great pride and excitement for the future of Bank of the West and BNP Paribas.”

Bank of the West executives recognized in the “Team Award” include:

  • Nandita Bakhshi, President & CEO of Bank of the West, Co-CEO of BNP Paribas USA
  • Vanessa Washington, Senior Executive Vice President, General Counsel, Bank of the West and BancWest
  • Ann Von Germeten, Executive Vice President, Chief Marketing Officer
  • Patricia Nowak, Executive Vice President, Head of Customer Experience
  • Emma Pertat, Executive Vice President, General Auditor, Bank of the West and BancWest
  • Michelle Di Gangi, Executive Vice President, Head of Small and Medium Enterprise Banking, Consumer Banking Division
  • Mary Borg, Executive Vice President, Head of Retail Branch Network and Strategy, Consumer Banking Division
  • Beth Hale, Executive Vice President, Head of Product and Payments Solutions, Consumer Banking Division
  • Maria Lazzarini, Executive Vice President, Northern California Retail Banking, Consumer Banking Division
  • Eileen Dignen, Managing Director, Head of Cash Management & Commercial Card, Commercial Banking Group
  • Meghan Birmingham Leader, Executive Vice President, Chief Administrative Officer, Commercial Banking Group
  • Kristin Nelson, Senior Vice President, Head of Sales Strategy, Training & Business Owner Solutions, Wealth Management Group

This year’s honorees will be honored on October 5, 2017 at a gala awards dinner at Cipriani Wall Street in New York City and are featured in the October issue of American Banker Magazine.

The complete ranking for The Most Powerful Women in Banking and Finance Awards is available on the American Banker website, found here.

About Bank of the West

Bank of the West is a regional financial services company headquartered in San Francisco with $86.9 billion in assets as of June 30, 2017. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 23 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, a leading bank in Europe, which has a presence in 74 countries with more than 192,000 employees. To learn more about Bank of the West, visit About Us via BankoftheWest.com.

Deposit and loan products offered by Bank of the West, Member FDIC and   Equal Housing Lender. ©2017 Bank of the West.  In South Dakota, Bank of the West operates under the name Bank of the West California

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 190,000 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 realize 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 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.

About American Banker’s Most Powerful Women in Banking

American Banker’s Most Powerful Women in Banking recognizes the professional achievements and influence of the top-performing female executives in banking and financial services. The annual program, now in its 15th year, encompasses four lists: the 25 Most Powerful Women in Banking™, the 25 Most Powerful Women in Finance, the 25 Women to Watch, and the Top Teams in Banking. Rankings and details about the awards dinner are available at americanbanker.com/women-in-banking. 

Media Contacts:

Anita Fox
Head of Public Relations, Bank of the West
415-432-3696
media.relations@bankofthewest.com

Jamie Somohano
Media Press Officer, BNP Paribas
212-841-2406
Jamie.Somohano@bnpparibas.com

BNP Paribas today announced a settlement with the Board of Governors of the Federal Reserve System (“FRB”) relating to past misconduct in its foreign exchange business.

Under this settlement with the FRB, BNP Paribas will pay a fine of USD 246 million (approximately 215 million euros) which will be covered by existing provisions. This follows the announcement by BNP Paribas of a settlement with the New York State Department of Financial Services on the 24th May relating to the same issue.

In reaching this settlement, the FRB 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 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 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
Julia Boyce julia.boyce@bnpparibas.com +33 1 43 16 82 04
Coralie France-Savin coralie.francesavin@bnpparibas.com + 33 1 40 14 94 89
Sarah Worsley sarah.worsley@bnpparibas.com +33 1 40 14 65 14
Alexandra Umpleby alexandra.umpleby@uk.bnpparibas.com+44 20 75 95 2436
Mylene Benmoussa mylene.benmoussa@us.bnpparibas.com +1 212 841 2351

BNP Paribas today announced it has been named “World’s Best Bank for Corporates” for 2017 by Euromoney, the leading financial publication.  The global accolade was one of six awards won in total by BNP Paribas, which also included the regional category “Best Digital Bank in Western Europe”.

Overall, BNP Paribas won the following awards:

  • World’s Best Bank for Corporates
  • Best Digital Bank in Western Europe
  • Best Investment Bank in Belgium
  • Best Bank in France
  • Best Bank in Kosovo
  • Best Bank in Luxembourg

For almost 50 years, Euromoney has been the leading publication for covering the growth of international finance. Over the past 12 months its coverage has included interviews with close to 100 bank CEOs, ministers of finance and central bank governors around the world. The awards were established in 1992 and were the first of their kind in the global banking industry. This year Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries.

Clive Horwood, Editor, Euromoney said:
“While many national champions retrench to their home markets, BNP Paribas is one of the few firms actively broadening its reach into new markets and new clients. Its profile as one of the few truly global corporate banks, alongside its commitment to digital solutions – including co-development with its corporate clients – is proving more suited than ever to the environment in which it operates.”

Commenting on winning “World’s Best Bank for Corporates”, Yann Gerardin, Head of Corporate and Institutional Banking, BNP Paribas, said: “The last 12 months have seen us accelerate the transformation of our business, the aim being to meet more needs, of more clients, more effectively. Euromoney’s acknowledgement of our progress is encouraging and a function of three factors: the support of the entire BNP Paribas Group; the commitment of our teams; and the trust our clients continue to show in us.  This award – alongside the other five we have won – is recognition of their contribution, and my sincere thanks go to all.”

Press contacts
Alexandra Umpleby  +44 20 75 95 2436  alexandra.umpleby@uk.bnpparibas.com
Andrew Achimu   +44 20 75 95 6647  andrew.achimu@uk.bnpparibas.com
Sarisher Mann     +44 20 75 95 8150  sarisher.mann@uk.bnpparibas.com

BNP Paribas Securities Services, a leading global custodian, commissioned TABB Group to identify the technology trends shaping our industry

Tabb groupNEW 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

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. Claudineheadshotrotator

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

BNP Paribas, as Administrative Agent and lead bank, recently closed a credit facility for the State of Connecticut’s first Pay-for-Success Project (the “Connecticut Family Stability Pay for Success Project”), launched by the Connecticut Department of Children and Families. BNP Paribas is supporting this project in partnership with Social Finance Inc., Family-Based Recovery at the Yale Child Study Center, University of Connecticut Health Center, the Harvard Kennedy School Government Performance Lab, White & Case, Jones Day, and other participating lenders.

Pay-for-Success contracts, also known as “Social Impact Bonds,” are innovative public-private partnerships that combine nonprofit expertise, private sector funding, and independent evaluation to transform the way governments respond to chronic social problems. Through this model, private capital is raised to cover upfront costs for high impact programs while repayment to private investors only occurs if the program meets predetermined performance outcomes. Independent evaluators measure the effects of the program based on specific metrics that benefit both individuals and society.

The Connecticut Family Stability Pay for Success Project provides $11.2 million of private capital to support new intervention teams delivering “Family-Based Recovery” treatment to families with children aged six years or younger. Each team will visit a client’s home several times per week to promote positive parent-child interactions, increase parental understanding of child development, and assist parents on their path to substance use recovery. The project is designed to help ensure family stability and keep children with their parents.

Jean-Yves Fillion, CEO of BNP Paribas USA and Head of the Americas, Corporate & Institutional Banking said, “Our aim is to drive social change by creating well-structured and targeted investments as solutions to pressing social, economic and environmental issues. This innovative pay-for-success model demonstrates our ability to impact local communities and underscores our mission as a sustainable and responsible financial institution.”

In addition to BNP Paribas, participating lenders include QBE Insurance Group Limited, The Reinvestment Fund, Doris Duke Charitable Foundation, Laura and John Arnold Foundation, Nonprofit Finance Fund, and two anonymous family foundations.

BNP Paribas is committed to financing sectors that have significant positive impacts on local job creation and the strengthening of society. As of June 30, 2016, BNP Paribas had €840 million of commitments in support of social entrepreneurship and microfinance, serving approximately 900 clients and partners. In 2015, BNP Paribas also provided 470,900 people with access to financial education programs.

About BNP Paribas Group
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 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, corporate and institutional clients) to realize 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 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. www.group.bnpparibas

Press Contact
Cesaltine Gregorio
Phone: +1 212 841 3719
Email: cesaltine.gregorio@us.bnpparibas.com
Follow us on Twitter: @BNPPAmericas

BNP Paribas announces that on Sept 7 & Sept 8 2016 it will host its first Blockchain Bizhackathon in New York for the Americas platform. In recent years the bank has focused on new technologies, invested in a dedicated Blockchain team of developers and managers and held multiple Bizhackathon events in Europe.

BNP Paribas has successfully positioned itself within this space -it is a member of the R3 consortium, European CDC initiative, in addition to being on the Board of Digital Asset Holdings. Thus, this first edition of the Americas Bizhackathon will mark the unveiling of the bank’s new in-house Innovation Lab at their Americas head office in New York. The event will kick-off on September 7th with prominent key note speakers in the Blockchain space:

Dan O’Prey, Chief Marketing Officer – Digital Asset Holdings
Beth Shah, Head of Business Development – Digital Asset Holdings
Todd McDonald, COO & Co-founder – R3
Pascal Bouvier, Fintech Expert and Investor
Yorke Rhodes III, Blockchain Business Strategist – Microsoft

“BNP Paribas focus on new technology has been a priority for decades so we are glad to be hosting the First Americas Bizhackathon in New York. With the creation of our new in-house Innovation Lab we want to initiate a dialogue with our clients around Blockchain and find new solutions to integrate the technology that will allow BNP Paribas to better serve them”, noted Bruno d’Illiers, Deputy Head of CIB Americas, Functions and COO CIB Americas.

Over the course of two days more than 50 participants will gather to explore how this new technology can concretely advance the consumer/ client experience and improve the efficiency of the services offered in different areas of BNP Paribas’ CIB platform. The Americas Blockchain Bizhackathon will bring together renowned experts from the Blockchain community, internal talents from a wide-range of functions and businesses and relevant BNP Paribas clients and vendors.

About BNP Paribas in the USA

BNP Paribas has built a strong and diversified presence in the United States to support its client base. The bank employs over 16,000 people and has had a presence in the USA since the late 1800s. Bank of the West and First Hawaiian Bank (together BancWest, part of Retail Banking & Services) serve nearly 3.5 million individual, wealth and SME clients through a branch network of more than 650 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Investment Partners (part of Retail Banking & Services) as well as Real Estate and Fleet Services through partnerships.

Press Contact
Mylene Benmoussa
Phone: 212-841-2351 Email: mylene.benmoussa@us.bnpparibas.com
Follow us on Twitter: @BNPPAmericas