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DWS to transfer fund administration unit to BNP Paribas Securities Services
DWS to transfer fund administration unit to BNP Paribas Securities Services
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DWS to transfer fund administration unit to BNP Paribas Securities Services

28/06/2018

BNP Paribas Securities Services and DWS, one of the world’s leading asset managers, have entered into an agreement for BNP Paribas Securities Services to provide DWS with fund administration services, and DWS’s retail funds with depositary and custody services, in Germany and Luxembourg. The mandate represents EUR 240 billion in assets

Upon completion of the transaction, BNP Paribas Securities Services will become the fund administration service provider for DWS’s actively-managed funds in Germany and Luxembourg. It is expected that BNP Paribas Securities Services will also provide depositary and custody services to DWS’s retail funds.

As part of the mandate, DWS will transfer its fund administration unit, which is predominantly based in Germany, to BNP Paribas Securities Services, enabling BNP Paribas Securities Services to further develop its capacity and expertise in Germany and Luxembourg.

BNP Paribas Securities Services was selected for its multi-local market expertise and technology-driven approach to asset servicing and to provide a state-of-the-art platform for DWS.

“We are delighted to partner with DWS on this important mandate, which will enable us to expand our franchise in Germany and Luxembourg and marks an important milestone in the development of our global funds business.”

Patrick Colle, General Manager of BNP Paribas Securities Services

“Transferring services, such as fund administration, to outside vendors is part of an overall programme to improve the way we operate and service our clients in an efficient and high quality manner as we continue our measures to manage our cost base. We are confident that an agreement will be beneficial to all parties involved, including investors in our funds and colleagues in DWS.”

Jon Eilbeck, Chief Operating Officer at DWS

The transactions are subject to approvals by the parties’ respective governing bodies and by regulatory authorities. Completion of these transactions is expected by the end of the year for the fund administration mandate and in 2019 for the retail funds mandate.

-Ends-

Press Contacts BNP Paribas

Caroline Lumley caroline.lumley@uk.bnpparibas.com  +44 (0)20 7410 4650

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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.

Media Contacts DWS

Adib Sisani adib.sisani@dws.com  +49 69 910-61960

Klaus Thoma klaus.thoma@dws.com  +49 69 910-33405

About DWS

DWS Group GmbH & Co. KGaA (DWS) is one of the world's leading asset managers with EUR676bn of assets under management (as of 31 Mar 2018). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our strategic investment approach.

DWS wants to innovate and shape the future of investing: with staff from 35 nationalities, speaking more than 75 languages rooted in 22 countries, we are local while being one global team.

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