BNP Paribas Securities Services has completed the final stage of the migration of a large number of Henderson funds on to its platform.
In total, this complex project has required the migration of 25 legacy Gartmore funds with an approximate value of EUR8bn in three stages and incorporating multiple jurisdictions and fund types.
BNP Paribas was awarded this business on the basis of its strong client relationship and high quality services, which it has provided to Henderson since 2002. Having now completed the final stage of the migration, BNP Paribas will provide Henderson Global Investors (HGI) with a full service including custody, fund accounting, securities lending and foreign exchange services for the former Gartmore fund ranges in the UK and in Luxembourg.
James McAleenan, head of BNP Paribas Securities Services UK, Middle East and South Africa, says: “We’re very pleased with the outcome of this deal, which is the culmination of collective efforts across different areas within the business and across a number of markets. It reinforces and consolidates our long-standing relationship with Henderson, which we have developed over the last ten years. We have a very good understanding of their business and their operational objectives, and this is crucial to our ability to maintain high quality service levels we provide and to build on for the upcoming projects planned in 2014.”
Lesley Cairney, the Henderson chief operating officer, says: “This project is the culmination of over 12 months work between the two project teams and has been delivered to an exceptionally high standard without any impact to our day-to-day service and activities.”