BNP Paribas Securities Services has won a mandate to provide Fondo Pensione PREVEDI (“PREVEDI”) with securities lending services.
PREVEDI is an Italian pension fund for employees in the construction industry, providing members with additional retirement savings to supplement their state pension. The fund currently uses BNP Paribas Securities Services as its depositary bank and recently expanded this mandate to include securities lending services.
Stefano Catanzaro, General Manager of BNP Paribas Securities Services Italy, said: “We are delighted to be extending the services we provide to PREVEDI to include securities lending. We have built a close working relationship with PREVEDI over the past few years and look forward to continuing to help them meet the needs of their members.”
“BNP Paribas’ securities lending offering will help us optimise the financial management of the fund – for the ultimate benefit of our participants,” said Diego Ballarini, CEO of PREVEDI.