This transaction is part of BNP Paribas' 10-year strategic build-out of its Securities Services business in the US, and provides the bank with a proven US mutual fund administration and accounting platform.
More than 100 Janus Henderson employees, based in Denver, Colorado, have transitioned to BNP Paribas. The bank is committed to growing its presence in Denver, where its mutual fund administration hub will now be located. Other Securities Services operational hubs in the US include King of Prussia, Pennsylvania for hedge fund administration and Jersey City, New Jersey for custody and clearing.
As part of the transaction, BNP Paribas becomes the fund services provider for Janus Henderson's US regulated mutual funds, representing $138 billion in assets.
Claudine Gallagher, Head of the Americas for BNP Paribas Securities Services, said: "We have a long-standing relationship with Janus Henderson and are pleased to further this partnership.
"We are also delighted to welcome Janus Henderson's staff of fund servicing professionals, whose combined expertise will enable us to deliver a seamless transition for Janus Henderson and its clients. As we continue to build out our US business, we will be able to offer the market an integrated middle-to-back office platform, offering '40 Act fund accounting, fund administration and custody."
Dick Weil, Co-Chief Executive Officer at Janus Henderson Investors, said: "Having worked closely with the BNP Paribas team on this transaction over the course of the past few months, we have been impressed by their commitment to making this transition a success and feel confident that they will deliver superior service to our clients. BNP Paribas has been an excellent partner. I look forward to extending this in the years ahead."
With $2.8 trillion in assets under administration, and a global reach covering over 90 markets, BNP Paribas aims to support its clients in realizing their investment opportunities across the world and across all asset classes.