10-01-2023

CACEIS

BNP Paribas and CACEIS create Uptevia, a new specialist provider of issuer services

Uptevia, a joint venture owned equally by CACEIS and BNP Paribas, combining both banks’ issuer services[1] divisions, was founded on 1 January 2023. Uptevia aims to be a leading specialist in issuer services in France and eventually across Europe.

 

 

  1. ^ [1] BNP Paribas’s Securities Services business maintains its debt activities.
BNP Paribas and CACEIS create Uptevia, a new specialist provider of issuer services

The draft agreement between BNP Paribas’s Securities Services business and CACEIS, announced on 18 March 2022, received the approvals from the competition and regulatory authorities.

Uptevia offers issuers a wide range of services including shareholder recordkeeping (shares, bonds, warrants, etc.), organising and centralising general meetings, setting up and centralising financial operations, and managing employee shareholding plans. Uptevia will also provide equivalent services for fixed income products such as bonds and negotiable debt securities1.

The creation of Uptevia reflects the desire of BNP Paribas’s Securities Services business and CACEIS to develop a specialised, expanded and scalable service offering to serve corporate clients in France. Uptevia is based on a robust and agile architecture model and combines the expertise of both firms’ issuer service divisions.

Patrick Colle, Head of the Securities Services business of BNP Paribas, said: “We are delighted to announce the creation of Uptevia. With Uptevia, we aim to create a leading specialist in issuer services. Our corporate clients and their shareholders will benefit from pooled investments and an enhanced service offering underpinned by cutting-edge tech solutions.”

Jean-François Abadie, Chief Executive Officer of CACEIS, commented: “We are thrilled to go ahead with this bold project. Our two Groups have successfully joined forces to create Uptevia, a venture that will benefit employees and clients alike. They will be able to leverage the breadth of advantages offered by a strong player that is braced to tackle the challenges of this fast-changing business.” 

This agreement covers the specialised sector of issuer services. It does not affect other BNP Paribas or CACEIS service offerings.

BNP Paribas’s Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets.

As of 30 September 2022, Securities Services had USD 11.01 trillion in assets under custody, USD 2.31 trillion in assets under administration and 9,302 funds administered.

CACEIS is the asset servicing banking group of Crédit Agricole and Santander dedicated to asset managers, insurance companies, pension funds, banks, private equity and real estate funds, brokers and corporate clients. Through offices across Europe, North and South America, and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €4.6 trillion and assets under administration of €2.4 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2021).

The information contained within this document (‘information’) is believed to be reliable but BNP Paribas does not warrant its completeness or accuracy. Opinions and estimates contained herein constitute BNP Paribas’ judgment and are subject to change without notice. BNP Paribas and its subsidiaries shall not be liable for any errors, omissions or opinions contained within this document. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For the avoidance of doubt, any information contained within this document will not form an agreement between parties. Additional information is available on request.

BNP Paribas is a significant credit institution that is authorised to perform banking activities and investment services under the law applicable in France and is subject to prudential supervision on a consolidated basis by the European Central Bank, in cooperation with the Autorité de contrôle prudentiel et de résolution. As a public listed company and as an investment service provider, BNP Paribas is also in France under the supervision of the Autorité des marchés financiers. Its registered office address is 16 boulevard des Italiens, 75009 Paris, France, and its website is https://group.bnpparibas.

In the UK, BNP Paribas is deemed authorised by the Prudential Regulation Authority and with deemed variation of permission. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. BNP Paribas London Branch is registered in the UK under number FC13447. UK establishment number: BR000170. UK establishment office address: 10 Harewood Avenue, London NW1 6AA.

Services described in this document, if offered in the U.S., are offered through BNP Paribas acting through its New York Branch (which is duly authorised and licensed by the State of New York Department of Financial Services) or BNP Paribas Financial Services LLC, a limited liability company organised under the laws of the State of Delaware; if a securities product, through BNP Paribas Securities Corp., which is a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC and the Financial Industry Regulatory Authority; or if a futures product through BNP Paribas Securities Corp., a Futures Commission Merchant registered with the Commodities Futures Trading Commission and a member of the National Futures Association.

In accordance with the General Data Protection Regulation (GDPR), European Regulation no. 2016-679, depending on the nature of the processing of the personal data concerned, you have a right of access, rectification and erasure of your personal data together with the right to restrict or object to the processing of such data. For more information on GDPR, details regarding processing purposes, and data retention principles, as well as your rights in relation to the processing of your personal data by BNP Paribas SA, in the context of Securities Services activities, please refer to our data protection notice: https://securities.cib.bnpparibas/data-protection-notice

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