Riyad Capital partners with BNP Paribas Securities for asset services

The two entities will roll out a joint servicing model

The BNP Paribas logo is seen at a branch in Paris, France, February 4, 2020.

The BNP Paribas logo is seen at a branch in Paris, France, February 4, 2020.

REUTERS/Benoit Tessier

Riyadh –   Saudi closed joint stock firm Riyad Capital entered into an agreement with BNP Paribas Securities Services to provide global custody, as well as fund and consolidated data management services across Saudi Arabia.

The two entities will roll out a joint servicing model, which is the first of its kind in the Kingdom and the region and was being developed over the last two years, according to a press release.

Asset owners and asset managers in Saudi Arabia will benefit from this solution for both local and international assets, both traditional and alternatives through a single platform.

CEO of Riyad Capital, Sabty Sulaiman Al Sabty, said: “The solution we have developed with BNP Paribas Securities Services will truly cultivate and amplify the role of securities services in the financial markets in the Kingdom.”

Vice Chairman International at BNP Paribas Securities, Charles Cock, noted: “This will further strengthen our offering in the region where we have been servicing clients for many years, and also will truly position Riyad Capital as the local champion in securities services in the Kingdom.”

Riyad Capital engages in all lines of capital market activities such as dealing, managing, arranging, advisory, and custody. Meanwhile, BNP Paribas Securities is a global custodian with $12 trillion in assets under custody.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Financial Services