BNP Paribas SS wins French mandate
26 March 2012 London
Image: Shutterstock
BNP Paribas Securities Services announced that it has won a new mandate from Fédéris Gestion d’Actifs to provide a suite of collateral management services, supporting the manager’s OTC derivatives activities.
Fédéris, the dedicated asset management company of major French insurance and pension group Malakoff Médéric, manages more than €23 billion in assets. The appointment is the latest development in a relationship that began in 2002, following the evolution of Fédéris’ strategy to include increased use of both OTC and listed derivates.
Stéphane Carteau, director of operations at Fédéris, said: “As 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.
“We lacked the in-house expertise to manage this function effectively, so outsourcing this critical activity made a lot of financial sense.”
Fédéris, the dedicated asset management company of major French insurance and pension group Malakoff Médéric, manages more than €23 billion in assets. The appointment is the latest development in a relationship that began in 2002, following the evolution of Fédéris’ strategy to include increased use of both OTC and listed derivates.
Stéphane Carteau, director of operations at Fédéris, said: “As 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.
“We lacked the in-house expertise to manage this function effectively, so outsourcing this critical activity made a lot of financial sense.”
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