Moving on Up: BNP Paribas Securities Services' Gallagher Talks Growth Goals, New Regulatory Positioning
The firm is looking to increase its position in custody services from fifth to fourth largest in the world.
BNP Paribas was in a unique position in 2010. Despite operating the fifth-largest custodian business in the world, the Paris-based bank didn't have a strong US presence. Outside of sales and relationship management teams, BNP had virtually no production capability in a market that holds four of the top 10 largest banks in the world and nearly half of the world's 500 largest asset managers.
That's why, in 2010, the bank developed a 10-year investment program focused on North America with the
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