BNP Paribas Securities Services business has entered a strategic partnership with Broadridge Financial Solutions to strengthen its global custody services offering. As part of this collaboration, Broadridge will serve as the service provider for BNP Paribas’ global securities class action services, further bolstering the bank’s investment and asset recovery capabilities.

Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas, emphasized the bank’s commitment to delivering innovative solutions to clients. “Broadridge brings advanced technology, market-leading information security, and deep industry expertise that aligns with our goals,” said Houillon. “This partnership will allow us to enhance our clients’ experience and support their business, leveraging Broadridge’s proprietary technology to identify, file, and recover investment losses.”

BNP Paribas Partnership with Broadridge to Boost Custody Services

Also, Broadridge’s cutting-edge technology offers a comprehensive solution for managing global securities class actions. The platform helps investors efficiently identify asset recovery opportunities, file claims, and recover losses. This technology is backed by Broadridge’s extensive industry expertise, ensuring that clients can maximize their recoveries from securities class actions.

Steve Cirami, Vice President and Head of Corporate Actions & Class Actions at Broadridge, highlighted the growing importance of asset recovery in the face of rising securities class action volumes. “It’s crucial for BNP Paribas’ clients and other global financial institutions to leverage all available asset recovery opportunities,” said Cirami. “Broadridge’s solutions will provide BNP Paribas’ clients with the necessary tools to make informed decisions, facilitate investor participation in settlements, and support business functions effectively.”

With more than 35 jurisdictions adopting collective redress mechanisms for shareholders, the global landscape for securities class actions continues to expand. In 2024 alone, investors saw over 125 recovery opportunities, with $5.2 billion in settlements. The ability to monitor and act on these opportunities requires advanced technology and expertise, particularly in complex global jurisdictions.

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