Uptevia, a joint venture owned equally by CACEIS and BNP Paribas, combining both banks’ issuer services1 divisions, was founded on 1 January 2023. Uptevia aims to be a leading specialist in issuer services in France and eventually across Europe.
The draft agreement between BNP Paribas’s Securities Services business and CACEIS, announced on 18 March 2022, received the approvals from the competition and regulatory authorities.
Uptevia offers issuers a wide range of services including shareholder recordkeeping (shares, bonds, warrants, etc.), organising and centralising general meetings, setting up and centralising financial operations, and managing employee shareholding plans. Uptevia will also provide equivalent services for fixed income products such as bonds and negotiable debt securities1.
The creation of Uptevia reflects the desire of BNP Paribas’s Securities Services business and CACEIS to develop a specialised, expanded and scalable service offering to serve corporate clients in France. Uptevia is based on a robust and agile architecture model and combines the expertise of both firms’ issuer service divisions.
Patrick Colle, Head of the Securities Services business of BNP Paribas, said: “We are delighted to announce the creation of Uptevia. With Uptevia, we aim to create a leading specialist in issuer services. Our corporate clients and their shareholders will benefit from pooled investments and an enhanced service offering underpinned by cutting-edge tech solutions.”
Jean-François Abadie, Chief Executive Officer of CACEIS, commented: “We are thrilled to go ahead with this bold project. Our two Groups have successfully joined forces to create Uptevia, a venture that will benefit employees and clients alike. They will be able to leverage the breadth of advantages offered by a strong player that is braced to tackle the challenges of this fast-changing business.”
This agreement covers the specialised sector of issuer services. It does not affect other BNP Paribas or CACEIS service offerings.
1 BNP Paribas’s Securities Services business maintains its debt activities.