BNP Paribas Securities Services has been appointed by Asian life insurance group AIA as its OTC derivatives operations provider in Hong Kong and Singapore.
The French bank will provide AIA with trade management, collateral management and trade repository reporting in both locations.
The on-boarding process has already begun, and AIA’s regional director of investment management operations, Kong Siew Cheong, has praised the service so far.
"The quality of the support we receive through BNP Paribas’ global operating model is excellent, and the commitment and professionalism of the project team is highly commendable," he said.
AIA group has a presence in 18 Asian-Pacific markets, with total assets of $172bn.