BNP Paribas Securities Services has announced it is widening its banking capabilities in the Australian market.
The decision follows the bank's formal launch as a foreign deposit taking institution (FDI) last month.
Since obtaining an Australian banking licence, BNP Paribas has been deploying locally a broad suite of banking products such as currency hedging, dealing services and derivatives clearing.
"Our significant and ongoing investment in Australia underlines our firm ambition to be part of the superannuation success story. We are happy to be able to offer clients a richer suite of banking services," managing director Pierre Jond said.
To increase its on-the-ground product expertise, Nicolas Faust, who helped establish the business as a bank in Australia, will become head of marketing and financing services products.
"After the revamp of our fund administration and unit pricing platforms two years ago, and now with the full power of our global custody engine, our ability to process and report on mass data has never been better," Mr Jond said.
"Complimenting this with a broad suite of banking products makes our proposition all the more compelling."
