Fischer Francis Trees & Watts

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Fischer Francis Trees & Watts (FFTW) was an asset management firm based in New York, established in 1972 and fully owned by BNP Paribas since 2006. It has been a pioneer in investment services to central banks from around the world in the US market.

Overview

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FFTW was created in 1972 by founding partners Richard Fischer, Stephen Francis, James Trees, and John Watts.[1] In 1974, it started to develop investment services to central banks, in partnership with financier John Olcay who joined the firm in 1983 and later became its vice chairman.[2] FFTW expanded to London in 1989 and to Singapore in 1995.[1]

In 1999, Banque Nationale de Paris bought a 25 percent stake in FFTW,[3] which its successor BNP Paribas later raised up to 100 percent in 2006 while committing to preserve FFTW's operational independence.[4] By then, FFTW had $38 billion under management,[5] which grew to $54 billion five years later, with more than half from clients established outside the Americas.[1] The acquisition provided BNP Paribas with unique expertise in serving the investment needs of central banks, not least in the market for US mortgage-backed securities.[6]

See also

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References

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  1. ^ a b c "Fischer Francis Trees & Watts". The Mutual Fund Wire. Retrieved 26 June 2025.
  2. ^ "Olcay, Onder John". The New York Times. 23 October 2014.
  3. ^ "BNP/FFTW link up". Investment & Pensions Europe. May 1999.
  4. ^ Mike Foster (12 June 2006). "BNP Paribas finalises Fischer purchase". Financial News.
  5. ^ "BNP Paribas Asset Management will become the full owner of New York-based Fischer Francis Trees & Watts". Pensions & Investments. 13 June 2006.
  6. ^ "Asset manager: BNP Paribas Asset Management". Central Banking. 15 March 2021.
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