UniCredit Joins Forces with BNP Paribas and FNZ in the Latest Stage of its Securities Services Modernization Project

UniCredit Strengthens Securities Services with Partnerships and In-house Expansion

UniCredit, a leading European bank, is set to deliver more integrated, efficient, and future-ready securities services following a series of strategic partnerships and in-house expansions.

The bank has partnered with BNP Paribas for custody services in Italy and Germany, and with FNZ for a cloud-based post-trade securities platform in Germany. This partnership is part of UniCredit's evolving securities services offering, aimed at standardising its operations and suppliers across countries.

With FNZ and BNP Paribas on board, UniCredit is poised to set a new standard for client-centric securities services in Germany and across Europe. The new back-office and digital teams at UniCredit will work with FNZ to build an industry-leading post-trade securities platform in Germany. The platform team will be fully internal to UniCredit, creating more than 140 new roles in Germany and a further 60 roles in Italy.

In January, UniCredit announced plans to bring its back-office activities for securities services in house. This move is expected to create more than 200 new jobs. Another 25 roles have been created within the Digital team across Italy, Germany, and Poland to support the transition. More roles are expected to be created as the process continues.

BNP Paribas was selected as UniCredit's custody services partner due to its global footprint and operational excellence. The bank is ready to provide best-in-class services for UniCredit's clients.

Gianfranco Bisagni, UniCredit's Group Chief Operating Officer, is fully committed to harmonizing and simplifying UniCredit's set-up for the delivery of custody services. Marion Höllinger, CEO of HypoVereinsbank Germany, believes that by internalizing key parts of the securities value chain, UniCredit is making a strategic investment in one of its most critical product areas.

FNZ's technology platform is highly scalable and fully aligned with UniCredit's ambition to enhance operational efficiency and accelerate innovation. The partnerships are for custody services in Italy and Germany, and additional support for Luxembourg.

UniCredit's strategic moves are aimed at strengthening its in-house expertise, enhancing operational resilience, and accelerating its digital transformation. The bank aims to provide its clients with the best possible services, setting a new standard for securities services in Europe.