This is a landmark mandate for BNP Paribas Securities Services in the Hispanic Latam market. Protección S.A. is one of the largest pension funds in Colombia with over USD 31 billion in assets**. One of its main shareholders is SURA Asset Management, which is a subsidiary of SURA Group, one of the largest Latin American financial conglomerates.
Jose Luis Escobar, COO of Protección S.A., commented:
"We chose BNP Paribas as global custodian for our foreign assets because of its global network and ability to help us access overseas markets more efficiently.”
Claudia Calderon, Head of Hispanic Latam at BNP Paribas Securities Services, commented:
"This is prestigious new mandate which highlights the strengths of our offering in Hispanic LatAm. As a growing pension fund with an international outlook, Protección will benefit from our global and multi-local expertise around the world."
Since 2010, BNP Paribas Securities Services has rapidly expanded in the Americas, launching local custody and clearing in the United States, Brazil, Colombia and Peru.
* as of 30 June 2019. Source: BNP Paribas Group q2 2019 results
** as of 31 August 2019. Source: Protección S.A.
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About BNP Paribas Securities Services (www.securities.bnpparibas.com)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.