Maximizing Global Asset Recovery: BNP Paribas Partners with Broadridge for Class Action Solutions

BNP Paribas Partners with Broadridge for Enhanced Securities Services

In a significant move within the financial services sector, BNP Paribas' Securities Services business has announced its collaboration with Broadridge Financial Solutions, a global fintech leader. This partnership aims to enrich the services offered to clients engaged in securities class actions, maximizing their opportunities for asset recovery on an international stage.

As a premier global custodian managing an impressive $13.7 trillion in assets, BNP Paribas recognizes the vital need for robust asset recovery strategies, especially given the increasing volume of securities class actions worldwide. With over 35 jurisdictions implementing collective redress mechanisms, there is an expansive landscape for investors to reclaim lost assets. In 2024 alone, more than 125 recovery opportunities emerged, resulting in settlements exceeding $5.2 billion.

Leveraging Technology for Asset Recovery

Broadridge brings to the table a comprehensive, proprietary technology solution tailored for global class actions. The technology simplifies the identification, filing, and recovery processes for investment losses. This enhancement aligns perfectly with BNP Paribas' objective to deliver innovative and differentiated services that support their clients’ business pursuits.

Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas, noted the strategic importance of this technological partnership. He emphasized that Broadridge's advanced technology combined with market-leading information security will significantly enhance client experience. The synergy between both companies' expertise allows them to navigate complexities within various jurisdictions effectively.

Steve Cirami, Vice President at Broadridge, added that with the rise in securities class action litigations, it is crucial for financial institutions to leverage all available avenues for recovery. Broadridge's solutions facilitate clients in making informed decisions regarding claim recoveries, enhancing investor participation in settlements.

Expertise Behind the Services

To support this initiative, Broadridge has assembled a dedicated global class action services team composed of highly qualified securities litigators, claims administrators, and data specialists. This team ensures that clients receive unparalleled end-to-end service, including portfolio monitoring and streamlined claims filing processes across different regions.

Given the growing complexity of related legal frameworks, this team's expertise is indispensable for efficiently navigating the global class action landscape. With an extensive understanding of both local and international regulations, they provide clients with critical insights necessary for capitalizing on investment recovery opportunities.

A Bright Future Ahead

The collaboration between BNP Paribas and Broadridge signifies a major advancement in how financial custodians address the multifaceted challenges of asset recovery in the modern investing environment. As the market continually evolves, so too will the solutions that these leading firms provide to ensure that clients can maximize their recovery efforts effectively.

Broadridge, already a key player in financial technology, operates at the intersection of operations and technology, empowering clients with the tools needed to thrive in the financial ecosystem. As an integral part of BNP Paribas' diversified banking model, the Securities Services division remains committed to integrating high-quality asset servicing solutions with overall market functions, ensuring that clients are best positioned to navigate the evolving landscape of global finance.

For clients of BNP Paribas, this partnership is not merely a service enhancement; it represents a strategic alliance aimed at substantially bolstering their capabilities in asset recovery and offering a solid foundation for future financial resilience. By combining innovation and deep industry knowledge, BNP Paribas and Broadridge are set to lead the charge towards an increasingly efficient and responsive financial market.