14 December 2017
visit http://response.ncr.com

BNP Paribas and Credit Agricole merge custody IT

28 March 2002  |  2771 views  |  0 Credit Agricole

BNP Paribas and Credit Agricole have created a joint subsidiary, Euro Securities Partners, to operate and develop a combined IT platform for securities custody in retail and private banking.

The joint subsidiary has a share capital of EUR3 million, held equally by the two founders, and will staff 150 employees recruited from BNP Paribas and Credit Agricole. Each bank will have five seats on the ten-member board of directors.

Euro Securities Partners will be responsible for strategic project management, IT project leadership, IT operations management and back-office user support for the two banks. The two banks anticipate the move will boost performance and rationalise costs for their respective securities custody business. The joint platform will process 6.5 million accounts with a combined value in safekeeping of EUR460 billion.

The new subsidiary has begun operations for Credit Agricole's custody business and will be fully operational for BNP Paribas once the migrations scheduled for 2004 are complete.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas creates corporate Internet portals

BNP Paribas creates corporate Internet portals

15 February 2002  |  2371 views  |  0 comments
BNP Paribas makes trade finance splash

BNP Paribas makes trade finance splash

05 February 2002  |  2923 views  |  0 comments
Logica overhauls Credit Agricole call centre ops

Logica overhauls Credit Agricole call centre ops

30 January 2002  |  3039 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.atos.netvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
12247 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
9567 views comments | 16 tweets | 22 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
8192 views comments | 17 tweets | 36 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7405 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7296 views comments | 20 tweets | 11 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job