This decision will allow the company to reduce costs and allocate additional resources to its core activity.
MAPFRE Inversión, which specializes in long-term savings solutions, has selected BNP Paribas Securities Services as global custodian for its worldwide portfolio of assets worth €60 billion. This decision will allow MAPFRE to reduce costs and allocate additional resources to its core activity.
Before selecting BNP Paribas Securities Services as its global custodian, MAPFRE INVERSIÓN previously delegated its custody operations to a number of different service providers. Following a comprehensive internal analysis, the company has decided to centralize this outsourced work to a single securities custodian, giving rise to significant annual cost savings.
Among other advantages, this move will free up resources for use in MAPFRE INVERSIÓN’s core business, simplify balancing items and generate direct and indirect cost savings.
These changes reflect both MAPFRE’s global management approach and the Group’s strategic plan, moving toward specific development of the MAPFRE INVERSIÓN business, with a team of 150 investment specialists and direct management in 26 countries.