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).
FrÃ©dÃ©ric Perard, managing director, Luxembourg and offshore centres, at BNP Paribas Securities Services, said: âIn completing this major milestone of the Fortis migration on time and on scope, we are delighted with our teamâs achievement and Multifondsâ support was key in that respect.
âWe were impressed with the flexibility and scalability of Multifondsâ Transfer Agent and Fund Accounting platforms, and value their partner-oriented approach and commitment to excellenceâ.
âWe have a long-standing partnership with Multifonds and value their teamâs efforts in supporting us, particularly over the past year.â
Oded Weiss, CEO at Multifonds, said: âWe 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.
âBNP 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 Multifondsâ platforms are now well over $3.0trn across all our clients.â