Global custodian BNP Paribas Securities Services (BNPSS) has won a mandate to provide Fineco Asset Management with a range of custody and depositary banking services in Ireland.

This deal follows hot on the heels of the firm securing a mandate for UK-listed CMC Markets for international equities, ETFs, depository receipts and closed-end funds initially across 11 countries. This represents $600 million in assets under custody.

As part of the Fineco deal, BNPPSS will also provide fund administration and transfer agency services as well as over the counter derivative valuation and passive currency overlay services.

Stefano Catanzaro, general manager of BNP Paribas Securities Services Italy, said: "We are very proud to have partnered with Fineco Asset Management on their asset management expansion project in Ireland.”

Fabio Melisso, chief executive of Fineco Asset Management, said: “We are delighted with the collaboration that Fineco Asset Management has started with BNP Paribas Securities Services which began with a feasibility analysis and grew into the development of a fund creation process.

“The entire process was managed with an innovative approach and fast turnaround, enabling the launch of 40 funds in less than a year.”

Fineco Asset Management, wholly owned by FinecoBank, was created in May this year to manage assets through direct funds, funds of funds and through strategic partnerships with international managers on the market.

BNPSS has EUR 9.5 trillion in assets under custody.