Berenberg mandates BNP Paribas as its depositary bank and transfer agent in Germany and Luxembourg, in addition to its existing multi-market custody relationship

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The Securities Services business of BNP Paribas, a leading global custodian with USD 14.4 trillion in assets under custody[1], has been chosen by Berenberg, one of Europe’s oldest privately owned banks, to provide depositary bank, transfer agent, listed derivatives clearing, and OTC derivatives services in Germany and Luxembourg.

 

 

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12/06/2024 |
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This new mandate further solidifies Berenberg’s long-term partnership with BNP Paribas, which already includes local clearing, settlement, and custody services across multiple markets. It comprises Berenberg’s full fund range, with currently 18 UCITS in Luxembourg and 12 UCITS in Germany, representing a total of EUR 5 billion assets.

Founded in 1590, Berenberg has long-held expertise across its Wealth and Asset Management, Investment Bank, and Corporate Banking divisions. The bank is headquartered in Hamburg with a growing presence in key financial centres such as Frankfurt, London, and New York.

Sebastian Zimmermann, Chief Operating Officer, Wealth and Asset Management at Berenberg, stated: “We are grateful for the trust and support that BNP Paribas has shown us. The commitment and dedication during the partnership have played a great role in our achievements together, and we look forward to further cooperation and improvement of our processes.”

Bruno Campenon, Head of the Financial Institutions and Corporates Client Line, Securities Services at BNP Paribas, commented: “We are delighted to extend our partnership with Berenberg with this new mandate. We are committed to putting the combined strengths of our integrated product range and local expertise at the service of Berenberg’s growth strategy.”

[1] As of 31 March 2024. Source: BNP Paribas’ Securities Services business website

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