Stanbic IBTC appointed Custodian for BNP Paribas Securities Services

Stanbic IBTC, a member of Standard Bank Group and one of the leading financial services provider in Nigeria, has been selected as the custodian for BNP Paribas Securities Services in Nigeria.

This decision was made after a rigorous selection process which presented Stanbic IBTC as the most suitable custodian.

Speaking on Stanbic IBTC’s appointment, BNP Paribas Securities Services’ Regional Head of Network Management for Europe, Middle East and Africa, Mr. Bogart Miheaye said “Stanbic IBTC was viewed as the strongest of three candidates in Nigeria, with its longevity and a market footprint that has proven lobbying influence”.

“Taking into consideration the current regulatory environment, Stanbic IBTC in Lagos was the first custodian to offer the
segregation of treasury bills at the Central Bank”, he added.

Also commenting on the appointment, Mr. Mark Kerns, the Global
Head of Investor Services for Standard Bank, said “We are delighted with the appointment from BNP Paribas Securities Services in Nigeria and look forward to
deepening the existing relationship”.

This appointment, he said, “is another strong validation of our custody services leadership in Nigeria as well as testament of our lobbying and market advocacy efforts”.

Mr. Segun Sanni, Stanbic IBTC’s Head of Investor Services, also commented on the appointment, describing it as evidence that the company is the
preferred asset custodian in Nigeria.

He said, “We are pleased with the mandate given to us by BNP Paribas Securities Services in Nigeria. The inclusion of BNP Paribas Securities Services in our custody client portfolio is further evidence that our investments are yielding fruit in retaining Stanbic IBTC as Nigeria’s preferred custody services provider”.

In common with Standard Bank, BNP Paribas Securities Services brings
together local connectivity and broad product capability to provide clients with a one-stop solution.

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, is a full service financial services group with focus on three main business
pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Standard Bank Group is the largest African bank by assets and earnings. It is rooted in Africa with strategic representation in 18 countries on the African continent, including South Africa.

Standard Bank has been in operation for 150 years and is focused on building first-class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally