Nationwide plumps for BNP Paribas Securities Services

Nationwide Building Societe has picked BNP Paribas Securities Services to provide its with clearing and custody services for the UK market.

BNP Paribas Securities Services has been appointed as the settlement and gilt custody provider, safekeeping Nationwide Building Society’s £12.7 billion worth of gilt assets in the UK.

“Our operations scale in the UK, expertise and ability to provide the necessary infrastructure quickly were key to winning this mandate, said Julien Kasparian, UK head of sales and relationship management for banks and brokers at BNP Paribas Securities Services: We look forward to developing our relationship with Nationwide further.”

Nationwide, acknowledged as the world’s largest building society, has assets of £200 billion, 17,000 employees and 15 million customers across the UK.