A year after announcing the deal, BNP Paribas and Allfunds have finally completed their strategic agreement. As part of this partnership, BNP Paribas Securities Services will give its fund-buyer clients access to more than 2,000 fund houses and 100,000 funds and a range of fund analytics services from its new Fund@ccess platform, which is powered by Allfunds. In addition, BNP Paribas will entrust Allfunds with the management of its distribution contracts with third-party investment funds, on behalf of the retail, wealth management, insurance and asset management businesses of the BNP Paribas Group.
As part of the agreement, around 250 employees have transferred from BNP Paribas Securities Services to Allfunds, mainly in Poland and Italy. BNP Paribas Securities Services and BNP Paribas Asset Management now hold together a strategic stake of 22.5pct in Allfunds.