BNP Paribas has announced that it has recently been selected by RBS to act as the ‘referral bank’ for its Cash Management and Trade Finance clients affected by the latter’s decision earlier this year to focus its transaction services business on its home market capabilities in the UK and the Republic of Ireland.
Under this agreement, both parties have set up a seamless and simplified process for RBS customers wishing to migrate to BNP Paribas, in order to minimise the disruption to their business. These new clients will be assigned to the appropriate specialised department within the BNP Paribas Group and, in Luxembourg, they will be welcomed and served by a dedicated team within BGL BNP Paribas’ Corporate Banking department.
Joining BGL BNP Paribas will give these new clients access to the broad array of Cash Management and Trade Finance services available in Luxembourg and within the Group, notably through the bank’s “One Bank for Corporates” network. This unique platform offers companies Trade Finance and Cash Management solutions via more than 220 business centres around the world and more than 1,700 dedicated relationship managers.
Jean Pfeiffenschneider, Head of Corporate Banking at BGL BNP Paribas, said “Our teams are ready to welcome these new clients and to partner with them on their projects, with excellent banking offerings in Luxembourg and a high-quality level of service to meet their daily needs. Our ‘One Bank for Corporates’ network will give them access to a wide range of specialised services within the Group, notably global Cash Management and Trade Finance services.”
