BNP Paribas Securities Services Singapore has been appointed by Aberdeen Asset Management Asia for the fund administration and global custody of its Select and South-East Asia funds.

Low Hon-Yu, director of Aberdeen Asset Management Asia, said: "We wanted to consolidate our middle and back-office functions under one roof to minimise both costs and risks. This was of utmost importance as, in a fragmented region such as Asia, the front-office relies heavily on the local expertise of the middle and back-office. In that respect, the role of BNP Paribas Securities Services within our global operating model is a key component to support our growth plan in the region".

Jean-Marc Pasquet, head of BNP Paribas Securities Services Asia Pacific, said: "We believe our success in delivering an integrated service to the fragmented European market positions us well to service different countries in Asia. For Aberdeen Asset Management in Asia, we will be bringing the best of our global platforms and expertise, whilst leveraging the best of local talents and infrastructure in Asia. "The closer, the better" is our slogan, but it also accurately describes how we do business".

BNP Paribas Trust Services Singapore is the new trustee for the Select funds.