Proteccion, Medellín, Colombia, hired BNP Paribas Securities Services as global custodian of its $7.5 billion foreign portfolio, confirmed Natalia Ramos Berrio, director of treasury for the $31 billion pension fund.
"We chose BNP Paribas as global custodian for our foreign assets because of its global network and ability to help us access overseas markets more efficiently," said Jose Luis Escobar, Proteccion chief operating officer, in a news release issued by BNP Paribas.
The pension fund conducted the search using an RFP.
