29 October 2009 News

 

Aberdeen Asset Management Asia partners with BNP Paribas Securities Services in Singapore

BNP Paribas Securities Services Singapore has been appointed by Aberdeen Asset Management Asia for the fund administration and global custody of their "Select" and "South-East Asia" funds.

BNP Paribas Trust Services Singapore is the new trustee for the "Select" funds.

Low Hon-Yu, director of Aberdeen Asset Management Asia, said: "We wanted to consolidate our middle and back-office functions under one roof to minimise both costs and risks. This was of utmost importance as, in a fragmented region such as Asia, the front-office relies heavily on the local expertise of the middle and back-office. In that respect, the role of BNP Paribas Securities Services within our global operating model is a key component to support our growth plan in the region".