BNP Paribas' Securities Services Business Adopts Broadridge's Global Class Action Solution to Maximize its Clients' Global Asset Recovery Opportunities
Rhea-AI Summary
BNP Paribas Securities Services, managing USD 13.7 trillion under custody, has selected Broadridge Financial Solutions (NYSE:BR) as its global securities class action services provider. The partnership aims to enhance BNP Paribas' global custody services by leveraging Broadridge's proprietary technology for identifying, filing, and recovering investment losses.
The collaboration comes at a time when securities class actions are expanding globally, with over 35 jurisdictions adopting collective redress mechanisms. In 2024, there were more than 125 recovery opportunities totaling $5.2 billion in settlements. Broadridge's solution offers comprehensive global class action coverage through its team of securities litigators, claims administrators, auditors, and data specialists.
Positive
- Partnership with major financial institution BNP Paribas (USD 13.7T under custody) expands Broadridge's market reach
- Growing market opportunity with over 125 recovery cases and $5.2B in settlements in 2024
- Expansion into 35+ global jurisdictions indicates strong market growth potential
Negative
- None.
News Market Reaction
On the day this news was published, BR declined 0.09%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Broadridge's solution provides comprehensive global class action coverage, maximizes claims and increases investor participation in settlement recoveries
"As the Securities Services business of BNP Paribas, we are committed to delivering innovative and differentiating products and services to our clients. Broadridge brings advanced technology, market-leading information security and deep industry expertise that align with our goals, enhancing our clients' experience and supporting their business," said Christian Houillon, Head of Custody Product for Securities Services at BNP Paribas. "We will be able to harness Broadridge's proprietary technology to identify, file and recover investment losses, alongside their extensive industry expertise."
Broadridge provides a comprehensive, proprietary technology solution for global class action services that will help clients identify and act on asset recovery opportunities. This includes a seamless process for identifying, filing, and recovering investment losses, backed by Broadridge's industry expertise.
"As the volume of securities class actions continues to rise, it's crucial for the clients of BNP Paribas' Securities Services business and other global financial institutions to leverage all available asset recovery opportunities," said Steve Cirami, Vice President, Head of Corporate Actions & Class Actions at Broadridge. "Broadridge's solutions will enable the clients of BNP Paribas' Securities Services business to obtain all required information to support their decisions on claim recoveries, facilitate investor participation in settlements and support key business functions, delivering a seamless and impactful client experience."
Investors have more recovery opportunities than ever before as the class action landscape continues to expand globally with more than 35 jurisdictions around the world adopting collective redress mechanisms for shareholders. In 2024 alone, there were more than 125 recovery opportunities and
Broadridge's dedicated global class action services team comprises deeply knowledgeable and experienced securities litigators, claims administrators, claims auditors and data specialists, equipped to provide clients with unmatched end-to-end services, portfolio monitoring and claims filing and registering processes in global jurisdictions. Learn more about the team here.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms underpin the daily trading of more than
About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas' Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas' diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group's other business lines, in particular those of Global Banking and Global Markets.
As of 31 December 2024, Securities Services had
Media Contact:
Tatjana Kulkarni
Tatjana.Kulkarni@broadridge.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/bnp-paribas-securities-services-business-adopts-broadridges-global-class-action-solution-to-maximize-its-clients-global-asset-recovery-opportunities-302379773.html
SOURCE Broadridge Financial Solutions, Inc.
FAQ
What is the value of assets under custody that Broadridge's class action solution will service through BNP Paribas?
How many class action recovery opportunities were there in 2024 according to Broadridge (BR)?
How many jurisdictions currently have collective redress mechanisms for Broadridge's (BR) class action services?
What services will Broadridge (BR) provide to BNP Paribas Securities Services clients?
