CUSTODY

BNP Paribas Securities Services revenues jump 7% for 2017

Its strategic partnership with Janus Henderson in the US was also made up a significant portion of its new client wins.

By Joe Parsons joe.parsons@globalcustodian.com February 06, 2018 3:20 PM GMT
Revenues for BNP Paribas Securities Services reached almost €2 billion for 2017, up 7.2% year-on-year, sparked by an increase in new client wins. 

Assets under custody and administration also collectively jumped 11% in comparison to 2016 to €9.4 trillion and €2.3 trillion respectively.

BNP Paribas stated its increased revenues for the business were “due to the very good drive of the business and the positive effect of the new mandates.”

Its strategic partnership with Janus Henderson in the US was a key highlight for its new client wins, in which it added $138 billion of assets under custody.

It also launched a new mutual fund administration service in the US off the back of its partnership with Janus Henderson, and became the first bank to enter the tri-party collateral management space in 15 years in a bid to capitalise on enhanced buy-side demands for collateral solutions.

In addition to securities services, BNP Paribas equities and prime services division increased sharply by 20.9% over the year to €2.1 billion, largely due to “good development of prime services and a pick-up in the equity derivatives business.”