BNP Paribas has added over $1bn in new assets to its US custody platform after landing three new clients.

Swedish online brokerage business Avanza has opted to go with the bank’s North American securities services division.

Portuguese online bank Banco Investimento Global (BIG) and Norway’s Netfonds have also signed up.

Many of the bank’s clients are global investors, with large US portfolios.

In each case, broker KCG will provide order entry, order routing, monitoring and execution. BNP Paribas will take care of settlement and safekeeping.

The so-called ‘broker-to-custody model’ was a key factor in winning the new business, according to New York-based Bruno Campenon, who heads up BNP Paribas' custody & clearing business for the Americas.

“All three new clients have been impressed with the simplicity and effectiveness of their first trades and we are looking forward to bringing on the additional clients we have in the pipeline,” he said.

The French bank launched its US custody service back in 2012, offering post-trade services to multinational banks, brokers and institutional investors.

The idea was to lessen the company's reliance on external sub-custodians and increase the amount of client assets held entirely within the bank.

Campenon relocated from Asia to New York last year to lead the US custody business. Stéphanie Marelle moved to Hong Kong to replace him.