BNP Paribas Securities Services Hires Head of Sales to Complement the Launch of Issuing and Paying Agent Services in the US

NEW YORK, NY--(Marketwired - Apr 14, 2014) - BNP Paribas Securities Services announces the appointment of Jamie Pratt as Head of Sales Americas for Debt Market Services. The hire follows the launch of the bank's issuing and paying agent services to US money market issuers last year.

Pratt joins from Barclays Capital where he was a director in the bank's structured finance department in New York. Prior to this, he was a securitisation banker at Deutsche Bank in London.

"I am delighted that Jamie has joined us to lead our debt market services sales. The US money market is a key source of short-term funding for US and non-US issuers. It is a high volume market with short deadlines creating significant operational challenges for issuers," said Claudine Gallagher, regional manager North America at BNP Paribas Securities Services on the launch. "Our strong understanding of the local market infrastructure and its regulatory environment combined with our market-leading technology platform dedicated to money market processing will help our customers increase efficiency and reduce operational risk," she added.

BNP Paribas Securities Services is expanding its presence as a full service provider in the US money markets and views recent developments in this space as an opportunity to build on its existing franchise.

BNP Paribas Securities Services provides US money market issuers with comprehensive support in their issuance of short term debt, including real time reporting and straight through processing to the Depository Trust & Clearing Corporation (DTCC), as well as the distribution of periodic interest and maturity payments.

Debt products administered by BNP Paribas Securities Services in North America include US commercial paper, US medium term notes, US certificates of deposit, asset backed commercial paper and collateralised commercial paper.

BNP Paribas Securities Services is a leading global custodian with more than USD 8 trillion in assets under custody and a global custody network covering over 100 markets. It services all participants in the financial services industry, helping them protect their investments, evaluate and report on their portfolios, monitor risk and enhance returns. BNP Paribas Securities Services has over 50 years of experience in providing debt services across the world.