Riyad Capital signs agreement with BNP Paribas Securities Services to provide joint asset servicing offering

Riyad Capital signs agreement with BNP Paribas Securities Services to provide joint asset servicing offering

Riyad Capital has signed an agreement with BNP Paribas Securities Services to provide global custody, fund services and consolidated data management services in the Kingdom of Saudi Arabia under a unique joint servicing model, the first of its kind in the Kingdom and the region. Developed over the last two years, the joint asset servicing proposition has been developed in conjunction with a large sophisticated public sector institution and will be live in H1 2021. All clients will benefit from a range of services including local and global custody, securities lending, investment accounting, performance measurement, ex-post risk analytics and post trade compliance monitoring across a range of asset types. Sabty Sulaiman Al-Sabty, CEO of Riyad Capital expressed his enthusiasm to partner with BNP Paribas Securities Services, one of the largest global custodians with profound expertise in the business of securities services. He commented: "The solution we have developed with BNP Paribas Securities Services will truly cultivate and amplify the role of securities services in the financial markets in the Kingdom“. Charles Cock, Vice Chairman International at BNP Paribas Securities Services, said: "We are pleased to offer this servicing model with Riyad Capital, one of the largest providers of securities services in the Kingdom.