BNP Paribas’ Securities Services business said Wednesday that it has partnered with Broadridge Financial Solutions to enhance its global custody services by adopting Broadridge’s Global Class Action Solution.
Broadridge Partners With BNP Paribas’ Securities Services Business
The partnership aims to maximise asset recovery opportunities for BNP Paribas’ clients by leveraging Broadridge’s proprietary technology and industry expertise.
“As the Securities Services business of BNP Paribas, we are committed to delivering innovative and differentiating products to our clients,” said Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas.
“Broadridge brings advanced technology, market-leading information security, and deep industry expertise that align with our goals, enhancing our clients’ experience and supporting their business.”
The firm explained that the new service will allow BNP Paribas to identify, file, and recover investment losses more efficiently, providing a seamless asset recovery process.
Steve Cirami, Vice President and Head of Corporate Actions & Class Actions at Broadridge, noted the rising volume of securities class actions worldwide.
“It’s crucial for the clients of BNP Paribas’ Securities Services business to leverage all available asset recovery opportunities,” he said, adding that the partnership will facilitate investor participation in settlements and provide crucial claim recovery insights.
Broadridge said there were over 125 recovery opportunities and $5.2 billion in settlements recorded in 2024. As a result, they believe global investors increasingly require advanced technology and expertise to track and recover assets.
BNP Paribas, which has $13.7 trillion in assets under custody, will now integrate Broadridge’s end-to-end class action services.
