(Boursier.com) — Equally owned by CACEIS and BNP Paribas, Uptevia, which brings together the issuer services activities of the two banks, was created on January 1, 2023. Uptevia aims to be a French – and eventually European – leader in Corporate Trust activities. The draft agreement between BNP Paribas Securities Services and CACEIS, announced on March 18, 2022, has obtained the approval of regulatory and competition authorities.
Uptevia offers issuing companies a wide range of operational services such as keeping capital registers (shares, bonds, warrants, etc.), organizing and centralizing general meetings, setting up and centralizing financial transactions, and the administration of employee share ownership plans. Uptevia also provides equivalent services on interest rate products (bonds, negotiable debt securities, etc.).
The creation of Uptevia responds to the desire of the Securities Services business line of BNP Paribas and CACEIS to offer a specialized, enriched and scalable range of services to Corporate clients in France. Uptevia relies on a robust and agile architecture and brings together the expertise of teams dedicated to issuer services from both companies.
Patrick Colle, Head of Securities Services at BNP Paribas, said: “It is with great pleasure that we announce the creation of Uptevia. With Uptevia, we have the ambition to create a leader in the field of issuer services. Our Corporate clients and their shareholders will benefit from pooled investments and will then have access to an enhanced range of services and state-of-the-art technological solutions.”
Jean-François Abadie, Chief Executive Officer of CACEIS, commented: “We are delighted with the completion of this ambitious project. We have joined forces to achieve Uptevia, a success for our two groups, which will benefit both our employees and to our customers. They will be able to take advantage of all the assets of a powerful and dimensioned player to face the challenges of this rapidly evolving profession.”
This agreement covers the specialized area of issuer services. The other service offerings of BNP Paribas and CACEIS are not affected.
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