BNP Paribas Securities Services has won a €13 billion global custody mandate from French mutual insurance company, MAIF Group. BNP will service MAIF’s life and non-life insurance assets. Until now, MAIF was using BNP Paribas and another rival custodian to service its life and non-life insurance assets. MAIF chose the securities services firm after a competitive tender process.
Click here for the release from BNP Paribas.