DENVER & NEW YORK--(BUSINESS WIRE)--
Janus Henderson Investors (NYSE:JHG, ASX:JHG) today announced that BNP
Paribas Securities Services, a leading global custodian with over $10
trillion in assets under custody as of September 30, 2017, will assume
responsibility for the majority of Janus Henderson's back office
(including fund administration and fund accounting), middle office and
custody functions in the U.S.
As part of this partnership, more than 100 Janus Henderson employees
currently providing middle and back office functions in the U.S. will
become employees of BNP Paribas. This continuity will support a seamless
transition and consistent, high-quality service for clients.
Janus Henderson has a long-standing partnership with BNP Paribas outside
of the U.S. with a strong track record of support and service delivery.
This outsourced model will provide a single and consistent global
platform to support the global growth of Janus Henderson. The
partnership will leverage the broader expertise of BNP Paribas to
provide best practice and leading industry approaches to global
regulatory and industry issues.
Andrew Formica, Co-Chief Executive Officer at Janus Henderson
Investors, said: “The expansion of our partnership with BNP Paribas
to include U.S. services is yet another benefit to clients resulting
from the merger between Janus and Henderson. BNP Paribas has been an
excellent partner since we began our relationship more than 15 years
ago.”
Dick Weil, Co-Chief Executive Officer at Janus Henderson Investors,
said: “We are excited to announce a partnership that supports the
continuity of individuals providing these functions and is expected to
provide a seamless transition for clients.”
Clients will benefit from BNP Paribas Securities Services’ expertise in
back and middle office services. Janus Henderson fund shareholders will
also benefit from lower administration fees and expenses, as a result of
the reduction in overall operating costs associated with these functions.
This is an important strategic step for BNP Paribas, providing it with a
proven U.S. mutual fund administration and accounting platform, and
enabling it to expand its global fund servicing offering.
This partnership is part of BNP Paribas’ 10-year strategic build-out of
the firm’s Securities Services business in the U.S., which began with
the launch of global and U.S. custody in 2012. BNP Paribas is committed
to growing its presence in Denver where one of the firm’s fund servicing
hubs will be located.
Patrick Colle, CEO of BNP Paribas Securities Services, said: “We
are delighted to further broaden our long-time partnership with Janus
Henderson. This is a transformational opportunity for both our U.S.
platform and our global funds business. We are now able to offer a
complete multi-asset class, middle-to-back office solution, covering all
major markets in the world, including the U.S.”
Claudine Gallagher, Americas Head of BNP Paribas Securities Services,
added: “We are excited to expand our capabilities for asset managers in
the U.S. through this partnership, and look forward to providing
high-quality service to Janus Henderson and its clients."
BNP Paribas will pay Janus Henderson net consideration of approximately
$36 million for the operations upon closing, which is anticipated for
March 2018.
About Janus Henderson
Janus Henderson is a leading global active asset manager dedicated to
helping investors achieve long-term financial goals through a broad
range of investment solutions, including equities, quantitative
equities, fixed income, multi-asset and alternative asset class
strategies.
As at 30 September 2017, Janus Henderson had approximately US$361
billion in assets under management, more than 2,000 employees and
offices in 27 cities worldwide. Headquartered in London, the company is
listed on the New York Stock Exchange (NYSE) and the Australian
Securities Exchange (ASX).
About BNP Paribas Securities Services
BNP Paribas Securities Services, a member of the BNP Paribas Group, is a
leading global custodian and securities services provider. Backed by the
strength of the BNP Paribas Group, BNP Paribas Securities Services
provides multi-asset post-trade and asset servicing solutions for buy-
and sell-side market participants, corporates and issuers. With a
presence in 36 countries and a global reach covering over 90 markets,
its network is one of the most extensive in the industry, enabling
clients to maximize their investment opportunities worldwide.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171109005334/en/
Janus Henderson Investors Press Contacts
North America
Erin
Passan, +1-303-394-7681
erin.passan@janushenderson.com
or
EMEA
Angela
Warburton, +44 (0) 20 7818 3010
angela.warburton@janushenderson.com
or
Janus
Henderson Investors Investor Enquiries
John Groneman, +44 (0)
20 7818 2106
john.groneman@janushenderson.com
or
BNP
Paribas Press Contacts
North America
Jamie
Somohano, +1-212-841-2406
jamie.somohano@us.bnpparibas.com
or
EMEA
Caroline
Lumley, +44 (0) 20 7410 4650
caroline.lumley@uk.bnpparibas.com
or
Simon
Danaher, +44 (0) 20 7595 9108
simon.danaher@uk.bnpparibas.com
Source: Janus Henderson