BNP Paribas SS wins French mandate
26 March 2012 London
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BNP Paribas Securities Services announced that it has won a new mandate from F茅d茅ris Gestion d鈥橝ctifs to provide a suite of collateral management services, supporting the manager鈥檚 OTC derivatives activities.
F茅d茅ris, the dedicated asset management company of major French insurance and pension group Malakoff M茅d茅ric, manages more than 鈧�23 billion in assets. The appointment is the latest development in a relationship that began in 2002, following the evolution of F茅d茅ris鈥� strategy to include increased use of both OTC and listed derivates.
St茅phane Carteau, director of operations at F茅d茅ris, said: 鈥淎s our business evolved with increased use of derivatives, so too did our requirements for a robust collateral management service that would help manage the credit risk associated with multiple counterparty OTC derivative transactions.
鈥淲e lacked the in-house expertise to manage this function effectively, so outsourcing this critical activity made a lot of financial sense.鈥�
F茅d茅ris, the dedicated asset management company of major French insurance and pension group Malakoff M茅d茅ric, manages more than 鈧�23 billion in assets. The appointment is the latest development in a relationship that began in 2002, following the evolution of F茅d茅ris鈥� strategy to include increased use of both OTC and listed derivates.
St茅phane Carteau, director of operations at F茅d茅ris, said: 鈥淎s our business evolved with increased use of derivatives, so too did our requirements for a robust collateral management service that would help manage the credit risk associated with multiple counterparty OTC derivative transactions.
鈥淲e lacked the in-house expertise to manage this function effectively, so outsourcing this critical activity made a lot of financial sense.鈥�
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