The Dutch private bank Van Lanschot Kempen has engaged BNP Paribas Securities Services as custodian for, among other things, custody, investment administration of the funds branch and custody and clearing activities for the bank. It concerns a mandate of EUR 16 billion in total.
This is according to a press release from BNP Paribas Securities Services about this “strategic partnership with Van Lanschot Kempen (VLK), including two new mandates worth EUR 16 billion in assets”.
BNP Paribas Securities Services will provide global and local custody, investment administration, investment reporting, collateral management and FX services for Kempen Capital Management. The EUR 6 billion mandate covers funds in Luxembourg and The Netherlands. A decisive factor in winning this mandate was the specialist services of BNP Paribas Securities Services in the field of private capital investments.
In addition, the custodian bank will perform various private wealth management services for Van Lanschot Kempen, as well as brokerage activities. This EUR 10 billion asset mandate includes global and local custody and clearing of equities and listed derivatives.
BNP Paribas offers specialist offerings
Ernst Jansen, Managing Director at Van Lanschot Kempen (photo), said he expects that the partnership will enable Van Lanschot Kempen to build a scalable operating model that supports further growth. “BNP Paribas has a proven track record in Luxembourg and the Netherlands with a pan-European network for our wealth management and brokerage activities, as well as a specialist offering for private capital investments, a key growth area for Kempen Capital Management.”
Mark Schilstra, Netherlands Head at BNP Paribas Securities Services, said he believes that the partnership confirms BNP Paribas Securities Services’ strong position in the Luxembourg and Dutch markets. “And our ability to deliver operational innovation and cross-asset services to the various business lines of the Van Lanschot Kempen Group. We look forward to building on our longstanding partnership with Van Lanschot Kempen.”