Asian life insurance group AIA has appointed BNP Paribas Securities Services as its OTC derivatives operations provider in Hong Kong and Singapore.
In a statement, BNP Paribas Securities Services said it will provide trade management, collateral management and trade repository reporting to AIA in Hong Kong and Singapore.
AIA regional director of investment management, operations, Kong Siew Cheong said: “The quality of the support we receive through BNP Paribas’ global operating model is excellent, and the commitment and professionalism of the project team is highly commendable.”
“Each of our locations has its unique operational and regulatory challenges and the [BNP Paribas] team is able to partner with us to find flexible and effective solutions,” he said.
BNP Paribas Securities Services head of Asia Pacific Philippe Benoit said the firm is “delighted” to support AIA.
“We look forward to continuing the on-boarding process and partnering with them further in other service areas,” Mr Benoit said.
The major bank has announced additional charges of $525 million after tax in connection with increased provisions for its customer-related r...
The Commonwealth Bank has advised that it will begin a reimbursement process to current and former staff for lost wages from next week. ...
The major banks have seen their reputations significantly downgraded in an annual perception survey, with AMP placing last out of 60 Austral...