BNP Paribas has reported significant growth in its Securities Services division, fueled by robust developments in the private capital space, strategic client partnerships, digital innovation, and a deepening commitment to data-centric solutions. The bank’s results for the final quarter of 2024 reflect a strong upward trajectory that it expects to continue into 2025, driven by global momentum in private equity and an evolving client demand landscape.
Robust Revenue Growth in Q4 2024
In its Q4 2024 earnings report, BNP Paribas announced a 13.4% year-on-year revenue increase for its Securities Services division, reaching €776 million. This growth was largely attributed to expanding private capital mandates and a notable uptick in transaction volumes. Higher average market volatility led to a 25.3% increase in transaction volumes.
Among the key new mandates secured were significant wins in Australia, including a deal with Insignia Financial, one of the region’s largest asset managers and pension funds. These developments have underscored BNP Paribas’ ability to win major international clients while maintaining a stronghold in existing markets.
The Role of Private Capital
Karine Litou, Deputy Head of Private Capital and Global Head of Product Solution for Private Capital at BNP Paribas Securities Services, emphasized that the division’s success is rooted in the bank’s global operating model. This model integrates global reach with local expertise, allowing BNP Paribas to provide a seamless, consistent experience across jurisdictions.
Litou highlighted the bank’s one-stop-shop service offering that caters to private capital managers. These services encompass asset servicing and financing solutions aimed at helping clients scale efficiently. She also pointed to BNP Paribas’ holistic operating platform, which offers unified reporting and analytics capabilities, with all data derived from a single golden source.
Looking forward, Litou said BNP Paribas remains optimistic about growth in 2025, particularly in private equity. She noted that co-creating with clients and designing bespoke solutions are essential components of the bank’s strategy for sustained growth.
“We are always very enthusiastic to explore partnerships with clients to further expand our reach and capabilities,” Litou said. “Artificial intelligence technology will continue to play a pivotal role in next-generation asset servicing and client experience.”
Market Trends and Private Equity Outlook
Despite broader macroeconomic uncertainties, private equity markets have shown signs of resilience. Kyle Walters and Nicolas Moura, private equity analysts at PitchBook, said in a statement to Markets Media that private equity activity has remained vibrant.
According to PitchBook’s Q1 2025 Global Private Equity First Look report, deal activity has maintained its robust pace from 2024. The first quarter of 2025 even saw higher deal values than any quarter in the previous two years. However, the report also noted that global fundraising has slowed, with $88.4 billion raised in Q1 2025—well below the $155–160 billion mark from previous years.
Embracing Data-Driven Models
In line with evolving client needs, BNP Paribas introduced new post-trade data management services in December 2024. The bank partnered with NeoXam to integrate its Investment Data Solution (IDS) into its service offering.
Rémi Toucheboeuf, Head of Investment Analytics and Data Services, emphasized the importance of this shift toward a more data-centric operating model. Institutional investors are increasingly seeking solutions to navigate complex ecosystems efficiently, and BNP Paribas’ data services aim to fulfill that need.
The IDS platform connects clients to a broader data ecosystem and addresses key operational challenges. It allows clients to unify data across multiple formats and providers, offering a cross-asset class, multi-dataset view of their portfolios.
To support clients operating legacy platforms, the data management service captures, normalizes, and transforms data from multiple sources into a single client master data referential. Clients can then access this data through APIs and self-service features, which provide the flexibility to adapt to changing business models.
Toucheboeuf also noted the service’s capability to integrate sustainability metrics, such as carbon emissions, directly into operational workflows. This enhances transparency and accountability in ESG investing.
Digital Innovation and Blockchain Integration
Another notable innovation was BNP Paribas Securities Services’ involvement in digital bond issuance in Q4 2024. The bank acted as the issuing and paying agent for a digital bond issued by the French state-owned Caisse des Dépôts. This initiative was part of the European Central Bank’s wholesale central bank money experimentation program.
Wayne Hughes, Head of Digital Assets at BNP Paribas Securities Services, said the initiative underscores the bank’s long-term commitment to innovation in digital finance. Since 2019, BNP Paribas has been developing its capabilities in digital assets through platforms such as AssetFoundry and NeoBonds.
Hughes explained that these platforms support tokenization, custody, fund administration, and digital cash solutions. “We believe that innovation and the protection of our clients’ interests should go together,” he said. “We aim to be the long-term partner of choice for clients exploring digital assets.”
Strategic Vision for 2025 and Beyond
The consistent theme across BNP Paribas Securities Services’ various initiatives is its focus on strategic partnerships, technological innovation, and tailored client service. With its comprehensive global platform, the bank is positioning itself to meet the increasingly complex and digital-first needs of institutional investors.
Looking ahead, BNP Paribas is not only expanding its footprint in private capital but also investing in the tools and infrastructure necessary for the future of financial services. Whether through AI integration, ESG data capabilities, or blockchain experimentation, the bank continues to align itself with forward-looking trends that promise long-term growth and resilience.
In a rapidly evolving market, BNP Paribas Securities Services is showing that adaptability, client collaboration, and digital transformation are key pillars of sustained success.
Frequently Asked Questions
What drove BNP Paribas Securities Services’ revenue growth in Q4 2024?
Strong business development in private capital, increased transaction volumes, and major new client mandates—especially in Australia—contributed to a 13.4% rise in revenues.
What is the role of NeoXam in BNP Paribas’ services?
NeoXam powers BNP Paribas’ post-trade data management service, offering a unified, cross-asset view of portfolio data for enhanced efficiency and decision-making.
How is BNP Paribas embracing digital assets?
The bank has developed platforms like AssetFoundry and NeoBonds and participated in digital bond issuances, positioning itself as a leader in blockchain and tokenization services.
What makes BNP Paribas’ operating model unique?
Its global-local model integrates international reach with strong local presence, providing clients with tailored, seamless service across regions.
What are BNP Paribas’ future growth areas?
The bank is focusing on private equity, AI-powered services, sustainability integration, and expanding partnerships to meet growing market and client needs.
Conclusion
BNP Paribas Securities Services has demonstrated strong momentum through strategic growth in private capital, innovative data solutions, and digital asset advancements. Leveraging global expertise with localized execution, the bank is poised to meet evolving client demands and lead in a tech-driven financial landscape. With a clear focus on partnerships, ESG integration, and AI adoption, BNP Paribas is well-positioned to sustain its upward trajectory into 2025 and beyond.
