SBS signs MoU with French security firm

New Delhi, Nov 6 (UNI) Sundaram Business Services (SBS), the BPO arm of Sundaram Finance, today said it has signed a Memorandum of Understanding (MoU) with the French firm BNP Paribas Securities Services to provide security services in the country.

The new joint-venture will be called 'Sundaram BNP Paribas Securities Services', the company said in a statement.

SBS would hold 51 per cent stake, while the remaining will be with BNP Paribas, it added.

The JV, based in Chennai, would provide services like inclusion of fund accounting and transfer, to both domestic and off-shore investors in the country.

The company is also expanding its presence in the United Kingdom, Singapore and the West Asia, the statement added.

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