Aberdeen, BNP Paribas expand partnership
Aberdeen appointed BNP Paribas for the fund administration and global custody of their “Select” and “South-East Asia” funds.
"We created a unique “follow-the-sun” model that operates across three time zones - the US, Europe and Asia - giving our clients the flexibility of a global operating model accessible from anywhere in the world. We are delighted to have integrated the fund administration and global custody of these funds in Singapore, creating additional synergies for Aberdeen Asset Management Asia," said Arnaud Claudon, Head of BNP Paribas Securities Services Singapore.
Low Hon-Yu, director of Aberdeen Asset Management Asia, said: "We wanted to consolidate our middle and back-office functions under one roof to minimise both costs and risks. This was of utmost importance as, in a fragmented region such as Asia, the front-office relies heavily on the local expertise of the middle and back-office. In that respect, the role of BNP Paribas Securities Services within our global operating model is a key component to support our growth plan in the region."
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