The Luxembourg subsidiary of Tokyo-based Mizuho Financial Group, Inc. (MHFG) has mandated BNP Paribas Securities Services as its sub-custodian and settlement agent in Brazil.
Mizuho Trust & Banking (Luxembourg) S.A., a specialist provider of asset servicing, custody, payments and treasury services, helps its institutional clients invest in a wealth of global markets. Parent company Mizuho Financial Group ranks among the world’s largest banking institutions, with segments including personal, retail, corporate and international banking.
“This is a significant mandate win, which demonstrates our strengths in Brazil. Mizuho was looking for a local sub-custodian to support their clients investing in the country and selected us for our extensive local expertise and tailored custody and FX solutions,” said Andrea Cattaneo, Head of Brazil for BNP Paribas Securities Services.
BNP Paribas Securities Services is rapidly expanding in Latin America and currently offers local custody and clearing in Brazil, Colombia and Peru.