BNP Paribas to acquire BPM unit
February 8, 2018

BNP Paribas Securities Services has agreed to acquire Banco BPM SpA's (BPM) depositary banking business.

BPM is Italy's third-largest bank. Its depositary bank has around EUR 22 billion in assets under custody and provides custody, fund administration and depositary banking services to funds and institutional clients in Italy. 

BNP Paribas Securities Services says this transaction strengthens its overall position as the leading provider of post-trade services in Italy, where it safekeeps EUR 850 billion of client assets. 

Andrea Munari, Head of the BNP Paribas Group in Italy, said: "This acquisition highlights the importance of Italy as a strategic market for the BNP Paribas Group and strengthens BNP Paribas Securities Services' offering in the country." 

Stefano Catanzaro, General Manager of BNP Paribas Securities Services Italy, said: "The acquisition of BPM's depositary banking business consolidates our position as a leading asset servicing provider in Italy. It is part of our strategy to develop our network in targeted markets in Europe and globally." 

A price of EUR 200 million has been agreed, associated to long-term agreements. 

The deal is set to close in June 2018 and is subject to customary conditions including regulatory approval. 

BNP Paribas Corporate and Institutional Banking and Mediobanca – Banca di Credito Finanziario SpA acted as financial advisors to BNP Paribas Securities Services. Chiomenti acted as legal advisor. 





This site, like many others, uses small files called cookies to customize your experience. Cookies appear to be blocked on this browser. Please consider allowing cookies so that you can enjoy more content across fundservices.net.

How do I enable cookies in my browser?

Internet Explorer
1. Click the Tools button (or press ALT and T on the keyboard), and then click Internet Options.
2. Click the Privacy tab
3. Move the slider away from 'Block all cookies' to a setting you're comfortable with.

Firefox
1. At the top of the Firefox window, click on the Tools menu and select Options...
2. Select the Privacy panel.
3. Set Firefox will: to Use custom settings for history.
4. Make sure Accept cookies from sites is selected.

Safari Browser
1. Click Safari icon in Menu Bar
2. Click Preferences (gear icon)
3. Click Security icon
4. Accept cookies: select Radio button "only from sites I visit"

Chrome
1. Click the menu icon to the right of the address bar (looks like 3 lines)
2. Click Settings
3. Click the "Show advanced settings" tab at the bottom
4. Click the "Content settings..." button in the Privacy section
5. At the top under Cookies make sure it is set to "Allow local data to be set (recommended)"

Opera
1. Click the red O button in the upper left hand corner
2. Select Settings -> Preferences
3. Select the Advanced Tab
4. Select Cookies in the list on the left side
5. Set it to "Accept cookies" or "Accept cookies only from the sites I visit"
6. Click OK

BNP Paribas Securities Services has agreed to acquire Banco BPM SpA's (BPM) depositary banking business.

BPM is Italy's third-largest bank. Its depositary bank has around EUR 22 billion in assets under custody and provides custody, fund administration and depositary banking services to funds and institutional clients in Italy. 

BNP Paribas Securities Services says this transaction strengthens its overall position as the leading provider of post-trade services in Italy, where it safekeeps EUR 850 billion of client assets. 

Andrea Munari, Head of the BNP Paribas Group in Italy, said: "This acquisition highlights the importance of Italy as a strategic market for the BNP Paribas Group and strengthens BNP Paribas Securities Services' offering in the country." 

Stefano Catanzaro, General Manager of BNP Paribas Securities Services Italy, said: "The acquisition of BPM's depositary banking business consolidates our position as a leading asset servicing provider in Italy. It is part of our strategy to develop our network in targeted markets in Europe and globally." 

A price of EUR 200 million has been agreed, associated to long-term agreements. 

The deal is set to close in June 2018 and is subject to customary conditions including regulatory approval. 

BNP Paribas Corporate and Institutional Banking and Mediobanca – Banca di Credito Finanziario SpA acted as financial advisors to BNP Paribas Securities Services. Chiomenti acted as legal advisor. 



Free subscription - selected news and optional newsletter
Premium subscription
  • All latest news
  • Latest special reports
  • Your choice of newsletter timing and topics
Full-access magazine subscription
  • 7-year archive of news
  • All past special reports
  • Newsletter with your choice of timing and topics
  • Access to more content across the site