Mirae is launching global prime brokerage, equity financing, repo, correspondent clearing, foreign research distribution and agency execution businesses in the US.
As part of this mandate, BNP Paribas will provide Mirae with global custody services in the Americas, Europe and Asia. Mirae’s clients will benefit from BNP Paribas’ wide network, which covers more than 90 countries.
“After evaluating the market for custody services, we selected BNP Paribas for its superior service offering, expertise and overall ability to meet our needs today and as we grow,” said Robert Akeson, Chief Operating Officer of Mirae. “We are excited about this new relationship and the opportunities that come with having access to such a large global network and broad service offering to meet the complex needs of our clients.”
Florent Thiry, Head of the Financial Intermediaries and Corporates Client Line in the Americas at BNP Paribas Securities Services, added: “We are excited to have been appointed by Mirae as their global custodian. This demonstrates the strength of our offering in the US, where we have been expanding our presence, and our commitment to this market.”
Mirae is a Finra-registered US broker dealer. Its parent company, Mirae Asset Financial Group, has a global presence with offices in 15 markets, including the United States, United Kingdom, China, India, Australia, Singapore, Hong Kong and Brazil. The Group’s assets under management exceeded $298 billion as of December 31, 2016.