New York, NY / Mexico City, MX, May 14, 2020 – BNP Paribas Securities Services, a leading global custodian with USD 11.8 trillion in assets under custody as of December 31, 2019, is pleased to announce that it has begun operations in Mexico.
Through an existing BNP Paribas subsidiary – BNP Paribas Asset Management México, S.A. de C.V. Sociedad Operadora de Fondos de Inversión – BNP Paribas Securities Services began its Mexico operations in March of this year, providing daily accounting and valuation services as well as tax pricing and regulatory reporting.
Opening a new market in Mexico is a major milestone for BNP Paribas Securities Services in the Americas region. The Mexico office joins Brazil, Chile, Colombia, Peru and the US as the seventh country in the Americas where BNP Paribas Securities Services has a local expertise.
Francisco Hernandez, Country Head for Mexico, stated: “We have been growing our presence in Mexico significantly over the past few years and are delighted to be able to offer local clients new products and solutions. With this new milestone, we are now able to offer our institutional clients a more complete pan-Americas fund services solution.”
Claudia Calderon, Head of Hispanic LatAm at BNP Paribas Securities Services, commented: “This opening is one more step in expanding our LatAm presence, and highlights the strength of our offering in the region, as we continue to leverage our global and multi-local expertise around the world.”
BNP Paribas has had a presence in Mexico for over 50 years and today employs over 700 employees in the country, providing through different local entities Banking, Advisory, Insurance, Asset Management and Personal Finance services to local and international clients. In December 2019, BNP Paribas obtained approval from the Mexican Banking and Securities Commission to incorporate as a local bank in Mexico, which will enable it to further expand its product offering to include Global Markets, an area where the bank is a leader. The strategy is part of a wider regional growth plan encompassing the Americas, where the bank employs close to 20,000 employees and has an expertise in eight countries – with banking licenses in six of them.
BNP Paribas also announced today the appointment of Florence Pourchet as Head of CIB Latin America.
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