BNP Paribas’ Securities Services business, a global custodian with US$13.7 trillion in assets under custody, has partnered with Broadridge Financial Solutions, a global fintech firm headquartered in New York, United States, to enhance its global custody services.
As part of this collaboration, Broadridge has been appointed as the service provider for BNP Paribas’ global securities class action services.
BNP Paribas, headquartered in Paris, France, is expanding its service offering through this partnership.
Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas, stated:
“Broadridge brings advanced technology, market-leading information security and deep industry expertise that align with our goals, enhancing our clients’ experience and supporting their business. We will be able to harness Broadridge’s proprietary technology to identify, file and recover investment losses, alongside their extensive industry expertise.”
Broadridge provides a proprietary technology solution for global class action services, assisting clients in identifying and acting on asset recovery opportunities.
The service includes a streamlined process for identifying, filing, and recovering investment losses, supported by Broadridge’s industry expertise.
“Broadridge’s solutions will enable the clients of BNP Paribas’ Securities Services business to obtain all required information to support their decisions on claim recoveries, facilitate investor participation in settlements, and support key business functions, delivering a seamless and impactful client experience,”
said Steve Cirami, Vice President, Head of Corporate Actions & Class Actions at Broadridge.
The global class action landscape continues to expand, with more than 35 jurisdictions implementing collective redress mechanisms for shareholders.
In 2024 alone, over 125 recovery opportunities were recorded, amounting to US$5.2 billion in settlements.
Monitoring these opportunities globally requires advanced technology and expertise, particularly in jurisdictions where litigation processes can be complex.
Broadridge’s global class action services team includes securities litigators, claims administrators, claims auditors and data specialists.
The team provides clients with end-to-end services, including portfolio monitoring and claims filing, across multiple jurisdictions.
Featured image credit: edited from freepik
