Sundaram BNP Paribas Fund Services to recruit 100 people

CHENNAI: As part of its expansion plans, Sundaram BNP Paribas Fund Services would recruit 100 people across its delivery centres during the next fiscal.

Sundaram BNP Paribas Fund Services is a 51:49 per cent joint venture between Chennai-based Sundaram Finance Ltd and BNP Paribas Securities Services,100 per cent subsidiary of BNP Paribas.

Chennai-based Sundaram BNP Paribas Fund Services employs 200 people in its two-delivery centres in Chennai and Madurai. "It expects to hire around 100 people in the next financial year", a company statement said.

Meanwhile, the company said as part of providing full fledged fund accounting services, Sundaram BNP Paribas inked a MoU with Mumbai-based private equity player.

Sundaram BNP Paribas Fund Services said during their first full year operations, the company successfully migrated over 2.8 million investor files along with 35,000 distributor records.

"The fact that we have achieved transition of almost three million folios with no disruption of services to individual customers and distributors is very fulfilling", Sundaram BNP Paribas Fund Services, CEO, Shridhar Iyer said.

In 2010, Sundaram Finance and BNP Paribas Securities Services had said they would invest Rs 60 crore in fund services over a three year period, the statement added.