Nikko AM appointed BNP Paribas, a global custodian with US$7 trillion in assets under custody, in October 2011 to provide middle and back office services, custody and fund administration for its business in Asia and for its subsidiary based in Australia and New Zealand, Tyndall Investment Management (Tyndall AM).
Lawrence Au, Head of Asia Pacific for BNP Paribas Securities services said Nikko AM was a significant relationship for BNP Paribas in terms of providing middle and back office services.
“BNP Paribas is in a good position to support Nikko AM in its growth strategy, with unified platforms for a consistent client experience, supported by our global/local operating model to meet specific client needs and enhance market connectivity,” said Mr Au.
Frederick Reidenbach, chief operating officer and chief financial officer of Nikko AM, said Nikko decided to appoint BNP Paribas as a services provider to centralise the middle and back office systems in Asia-Pacific on one unified platform.
“Together, we successfully completed the migration program and can see the business efficiencies it delivers,” Mr Reidenbach said.
“We are very happy with our choice of partner and welcome their support for our growth plans across the Asia-Pacific region.”
The on-boarding project was highly complex and was completed in three stages, Nikko said.
Tyndall New Zealand’s middle and back office systems were first to be migrated to the BNP Paribas platform, Tyndall Australia was next, followed by Nikko AM Asia in Singapore.
