Moving on Up: BNP Paribas Securities Services' Gallagher Talks Growth Goals, New Regulatory Positioning
The firm is looking to increase its position in custody services from fifth to fourth largest in the world.
![claudine-gallagher claudine-gallagher](/sites/default/files/styles/landscape_750_463/public/import/IMG/748/347748/claudine-gallagher-580x358.jpeg.webp?itok=oDUwYBQy)
BNP Paribas was in a unique position in 2010. Despite operating the fifth-largest custodian business in the world, the Paris-based bank didn't have a strong US presence. Outside of sales and relationship management teams, BNP had virtually no production capability in a market that holds four of the top 10 largest banks in the world and nearly half of the world's 500 largest asset managers.
That's why, in 2010, the bank developed a 10-year investment program focused on North America with the
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