BNP Paribas has announced the renewal of its mandate as the depository bank of la Cassa Nazionale di Previdenza ed Assistenza a Favore dei Ragionieri e Periti Commerciali (CNPR), an Italian public pension fund for accountants.
The partnership began in 2019 after BNP Paribas won CNPR’s public tender offer. It will now be extended for another five years. BNP Paribas currently provides custodial and securities services for assets under CNPR totalling about €2.5 billion.
Andrea Cattaneo, head of Italy, Switzerland, and Iberia for Securities Services at BNP Paribas claims, “The Italian pension sector has always been a strategic area for our securities services business.” The bank is therefore committed to “developing innovative solutions to support the management and protection of the assets of the members”.
