The Parisian lender will take over the majority of Janus Henderson’s back office, middle office and custody functions in the US.

US-based asset manager Janus Henderson Investors has expanded its partnership with BNP Paribas, with BNP Paribas Securities Services taking over the majority of Janus Henderson’s back office, middle office and custody functions in the US.

The new partnership, which started 15 years ago, will allow for a single global platform to support the global growth of Janus Henderson, and will take advantage of BNP’s expertise in regulatory issues, the firms said in a statement.

To support a seamless transition, over 100 Janus Henderson employees providing back and middle office functions will move over to BNP Paribas. 

Janus Henderson shareholders will benefit from lower administration fees and expenses, while BNP Paribas will take advantage of Janus’ US mutual fund administration and accounting platform, giving it leverage to expand its global fund servicing offering.

BNP Paribas began its US custody function in 2012, and this partnership is the next step in a ten-year strategic build-out of the firm’s securities services business in the US. 

“This is a transformational opportunity for both our US 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 US,” said Patrick Colle, chief executive of BNP Paribas securities services.

In a separate development, BNP Paribas, parent of Bank of the West, the US-based bank offering services including wealth management, issued a report on trends in impact investing and related fields among high net worth and ultra-high net worth business leaders. For more detail, see here.