The Cyprus Investment Funds Association (CIFA) has welcomed the agreement signed between BNP Paribas Securities Services and T.C.R. International Limited, which was announced a few days ago.
Based on this agreement, T.C.R. International Limited (T.C.R.) has appointed BNP Paribas Securities Services to act on behalf of the international custodian.
BNP Paribas Securities Services is considered among the leading international custodians with assets worth €9.5 trillion under custodianship and a broad network covering more than 90 countries in America, Europe and Asia, helping its clients take advantage of investment opportunities across the globe.
T.C.R. is a well-known, independent Cypriot Investment Firm and provider of financial services, offering a wide range of services that include portfolio management, stock market orders, custodianship and investment advice.
Indeed, T.C.R. plays an active role in supporting and developing the investment funds industry in Cyprus. Based on the agreement that has been reached, BNP Paribas Securities Services will provide T.C.R. with international custodianship services as well as a broad range of other services, such as investment firm services and investment fund management.
Welcoming the agreement, CIFA Chairman Angelos Gregoriades said this development was indicative of the dynamic growth of the Cypriot investment funds sector.
“The agreement between BNP Paribas Securities Services, an international and reliable custodian in the investment capital sector, and T.C.R. is a vote of confidence in the Cypriot investment funds sector, which is growing dynamically.”