BNP Securities Services in Jersey has been celebrating the full integration of its services, following a major acquisition.

It is 18 months since the French banking group announced that it was buying the securities services business of RBS International in Jersey, a takeover which involved around 170 staff in the Island.

BNP has since rebranded the former RBS building in La Motte Street and last week organised an event to mark the integration of staff, clients, systems and platforms with the BNP Paribas model.

The UK offshore markets business also has offices in the Isle of Man and provides fund administration and global custody services, working alongside the full branch office in Jersey.

Michel Laurent, head of the BNP Paribas global network for securities services, said: ‘For us, this has been a very major step. Before this, we had very limited presence for funds in the Channel Islands. This completes our footprint in Europe.’ He explained that the group had been expanding its territories in Europe over the past ten years and now employs around 6,000 staff in total. The business is also expanding in Asia and has a presence in Australia and New Zealand, Singapore, Hong Kong and India.

Pictured: BNP’s Michel Laurent, Severine Mangin and David Myatt