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.
Former CEO of ING Direct Vaughn Richtor will assume the role of chairman at MyState following the retirement of Miles Hampton, the compan...