BNP Paribas Securities Services taps Broadridge for Global Class Action solution
BNP Paribas Securities Services, the French banking group’s multi-asset servicing arm, has appointed Broadridge Financial Solutions as service provider for its global securities class action services.
BNP Paribas taps Broadridge for class action services
Through the partnership, BNP Paribas’ securities business has implemented Broadridge’s Global Class Action solution to “maximise its clients’ global asset recovery opportunities”.
By adopting Broadridge’s automated claim processing, data analysis, and management tools, BNP Paribas will be able to “identify, file and recover investment losses”, says Christian Houillon, head of custody product for securities services at BNP Paribas.
In addition to the technology, the banking group’s securities business will gain access to Broadridge’s industry expertise through its global class action services team, which includes administrators, claims auditors, data specialists, and securities litigators. The US fintech says the unit can deliver “portfolio monitoring and claims filing and registering processes in global jurisdictions”.
Steve Cirami, VP and head of corporate actions and class actions at Broadridge, adds that the company’s solutions will enable BNP Paribas’ clients to “obtain all required information to support their decisions on claim recoveries, facilitate investor participation in settlements and support key business functions”.
BNP Paribas Securities Services provides a wide array of offerings, including fund administration, hedge fund services, regulatory reporting, and custody and clearing solutions. The global custodian currently manages $13.7 trillion in assets under custody and $2.8 trillion in assets under administration.
