BNP Paribas acquires Credit Suisse PFS
01 June 2015 London
Image: Shutterstock
BNP Paribas 麻豆传媒 Services has completed its acquisition of Credit Suisse鈥檚 Prime Fund Services (PFS) business, which offers fund administration, custody and banking services to alternative investment managers.
The acquisition means that BNP Paribas now has about $237 billion in assets under administration.
Patrick Colle, general manager of BNP Paribas 麻豆传媒 Services, said: 鈥淭his acquisition is a key step in the development of our global fund business and puts us in a good position to support the convergence of traditional and alternative managers.鈥�
鈥淥ur clients will benefit from the combination of PFS鈥� best of breed technology platforms and fund administration expertise with BNP Paribas鈥� broad asset servicing offering and geographical reach.鈥�
The move comes after BNP Paribas expanded its depository banking network to help alternative managers to comply with the Alternative Investment Fund Managers Directive (AIFMD).
The acquisition means that BNP Paribas now has about $237 billion in assets under administration.
Patrick Colle, general manager of BNP Paribas 麻豆传媒 Services, said: 鈥淭his acquisition is a key step in the development of our global fund business and puts us in a good position to support the convergence of traditional and alternative managers.鈥�
鈥淥ur clients will benefit from the combination of PFS鈥� best of breed technology platforms and fund administration expertise with BNP Paribas鈥� broad asset servicing offering and geographical reach.鈥�
The move comes after BNP Paribas expanded its depository banking network to help alternative managers to comply with the Alternative Investment Fund Managers Directive (AIFMD).
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