Janus Henderson Investors has announced that BNP Paribas Securities Services 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.
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.”
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.