BNP Paribas Securities Services will take over Janus Henderson Investors’ back office (including fund administration and fund accounting), middle office and custody functions in the US.
The deal, expected to be completed in March 2018, is valued at around $36m.
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Over 100 US-based Janus Henderson staff offering middle and back office functions will join BNP Paribas as part of the deal.
Janus Henderson, which already has a partnership with BNP Paribas outside of the US, said that its latest move will help it reduce administration fees and expenses.
BNP Paribas is also planning to expand its Denver footprint, where one of its fund servicing hubs will be located.
BNP Paribas Securities Services CEO Patrick Colle said: “We are delighted to further broaden our long-time partnership with Janus Henderson. This is a transformational opportunity for both our U.S. platform and our global funds business. We are now able to offer a complete multi-asset class, middle-to-back office solution, covering all major markets in the world, including the U.S.”
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