BNP Paribas’ Securities Services business, a leading global custodian with USD 17.5 trillion in assets under custody^[1], announces the reorganisation of its Digital Assets department to accelerate the implementation of digital assets solutions within its integrated offering. The department operates under the responsibility of Philippe Benoit, Head of Strategic Business Development and Transformation. Zineddine Alla joins Securities Services as Head of Digital Assets, based in Paris and reporting to Benoit.

The Digital Assets department of Securities Services, launched in 2021, has been developing solutions to provide clients with access to tokenised regulated financial instruments and different forms of digital cash, with strong focus on asset protection and security.

This reorganised structure sharpens the department’s focus on scaling its digital assets capabilities and developing future client offerings. By combining innovation, operational excellence and a robust risk framework, the Digital Assets team supports the wider Securities Services business in offering seamless access to both traditional and digital assets through its unified operating model.

In his new role, Zineddine Alla steers Securities Services’ digital assets strategy, particularly regarding its expanded business model and investment roadmaps. He also leads the department’s continued development across client segments, product domains and geographies. Before joining BNP Paribas in 2018, Alla has held positions in both public sector and academia. He was most recently as Deputy Head of Financial Institutions Coverage for EMEA in the bank.

Wayne Hughes has been appointed Digital Assets Market & Client Engagement Lead. In this position, he drives and supports Securities Services’ digital assets product development and value proposition, where he has been instrumental since the department’s inception.

Philippe Benoit, Head of Strategic Business Development and Transformation, Securities Services, BNP Paribas, stated: “As the adoption of digital assets accelerates across the financial industry, we are witnessing a market shift from experimentation towards commercialisation and industrialisation for the more mature use cases. This reorganisation positions us to capitalise on that momentum as we continue to develop a full value chain coverage. From issuance and distribution of tokenised securities to digital assets servicing, our expanding, end-to-end client offering will be a key driver of our growth ambitions for 2030 and beyond, aligned with the wider BNP Paribas Group’s ambition in innovation and technology.”

Source: BNP Paribas