UniCredit Partners With BNP Paribas, FNZ in Securities Revamp

UniCredit is partnering with BNP Paribas for custody services and with FNZ for its cloud-based post-trade securities platform, in an effort to harmonize its set-up across Italy and Germany, according to a statement.

• BNP Paribas’ securities services business to be Unicredit’s custody services partner for Italy and Germany, with additional support for Luxembourg
• New back-office and digital teams will now work with FNZ to build out post-trade securities platform for the bank’s custody services business in Germany
• Decision follows the bank’s announcement in January of plans to bring its back-office activities for securities services in house
• Team managing platform will ...