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BNP Paribas picks up MMC mandate
BNP Paribas has picked up an important new mandate, with boutique Australian fund manager MMC Asset Manager appointing BNP Paribas Securities Services to provide unit registry, fund administration and custody services for their managed fund portfolios and listed investment company, MMC Contrarian Limited.
The mandate flowed from a review undertaken by MMC on its requirements, with BNP Paribas being selected from three short-listed candidates.
Commenting on the decision, MMC chief financial officer David Mackaway said BNP Paribas had been selected on the basis of its partnership approach.
“We took the due diligence process very seriously and believe that we are outsourcing to the best service provider in the market to support our future growth,” he said.
AUTHOR
Mike Taylor
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