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Multifonds helps BNP Paribas with 65bn USD fund migration

Multifonds today announced that it has helped BNP Paribas Securities Services complete the migration of 900 funds (65bn USD) onto Multifonds Fund Accounting & Transfer Agent platforms.

BNP Paribas Securities Services, a leading global custodian, completed the migration as part of its 2009 acquisition of Fortis Bank. The funds, previously administered by a third-party administrator, are now on BNP Paribas Securities Services installation (Multifonds Transfer Agent and Multifonds Fund Accounting).

Frédéric Perard, managing director, Luxembourg and offshore centres, at BNP Paribas Securities Services, said: “In completing this major milestone of the Fortis migration on time and on scope, we are delighted with our team’s achievement and Multifonds’ support was key in that respect.

“We were impressed with the flexibility and scalability of Multifonds’ Transfer Agent and Fund Accounting platforms, and value their partner-oriented approach and commitment to excellence”.

“We have a long-standing partnership with Multifonds and value their team’s efforts in supporting us, particularly over the past year.”

Oded Weiss, CEO at Multifonds, said: “We were very pleased that the migration went so smoothly without any major technical issues, which shows the depth of functionality as well as scalability of our platforms.

“BNP Paribas Securities Services is a dynamic partner with strong growth aspirations which we are delighted to assist them with. With the addition of the Fortis assets, the total funds administered by Multifonds’ platforms are now well over $3.0trn across all our clients.”