GE Money chooses BNP for Czech funds distribution

Source: BNP Paribas

BNP Paribas Securities Services (BNP Paribas) today announced that it has been selected by GE Money Bank (GE Money) to provide fund distribution services in the Czech Republic.

Following a competitive tender process, GE Money, one of the Czech Republic's leading financial institutions offering universal banking services including retail banking and investments, chose BNP Paribas' open distribution platform to form a key component of its distribution strategy.

Commenting on the development, Peter Mikuš, Head of Liabilities and Investments at GE Money Bank in the Czech Republic said "We identified the need for a robust, open platform through which we could service clients' needs, and are pleased to have appointed BNP Paribas Securities Services as our fund distribution partner.

"The team has outstanding expertise in fund booking through Luxembourg, and their global presence and European pedigree - coupled with their general reputation as a world-class custody bank - was key to our final decision."

Matthew Grabois, Head of sales and relationship management, CEE & CIS, BNP Paribas Securities Services said "We're delighted to have been appointed to work with GE Money Bank in the Czech Republic. We look forward to working with GE Money and see this development as testament to our dedication to serving our growing client base in Central and Eastern Europe."

Peter Mikuš added "With our critical fund distribution infrastructure now outsourced, we can free up more resources to focus on achieving our key business objectives, safe in the knowledge that our distribution platform is running as efficiently as possible, giving our clients global coverage and the very best value for money.

"We started to use the platform with two prominent investment funds providers and plan to extend it in the near future"

By continuously improving its range of products and services across each of its locations as well as extending its local presence, BNP Paribas Securities Services aims to provide its clients with the same world-class solutions across the globe.

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