$447 Billion BNP Paribas Private Bank Launches Onshore Wealth Management in Thailand, Target to Increase Relationship Managers Covering Thailand & AUM by 3x In the Next 3 Years, Thailand is Southeast Asia 2nd Largest Economy with $495 Billion GDP & 71 Million Population
1st April 2024 | Hong Kong
French bank BNP Paribas Wealth Management (Private Bank) with $447 billion AUM (€415 billion, Assets under Management) has officially launched BNP Paribas onshore wealth management in Thailand, targeting to increase relationship managers covering Thailand & AUM by 3 times in the next 3 years. Thailand is Southeast Asia 2nd largest economy with $495 billion GDP & 71 million population. BNP Paribas: “BNP Paribas Wealth Management, the leading private bank in the Eurozone and a key player in Asia, plans to expand its local coverage and client asset base as it officially launches its onshore wealth management presence in Thailand, through BNP Paribas Securities (Thailand) Limited (“BNP Paribas Securities Thailand”). The bank is poised to triple the number of relationship managers covering clients in Thailand and their assets over the next three years, highlighting its commitment to better serve clients in the country. BNP Paribas Securities Thailand operates in a unique approach that combines onshore client engagement with offshore account management. This model offers local Thai clients access to BNP Paribas’ comprehensive and award-winning platform based in Singapore while ensuring close interaction with their relationship managers. The range of solutions it provides includes traditional asset management, wealth planning, advisory services, brokerage services, and access to investment opportunities in a broad range of asset classes such as equities, fixed income, hedge funds, and structured products. According to Forbes, the combined wealth of Thailand’s 50 richest increased by nearly 15% to $173 billion in 2023 despite a challenging macro-environment. The latest Hurun Global Rich List, published in March 2023, identified Thailand as the billionaire capital of Southeast Asia, with 46 billionaires (each worth at least $1 billion) in 2022, ranking it 11th in the world. This rising wealth is driving greater demand for sophisticated wealth planning, international investment and family governance.” Earlier in January 2024, BNP Paribas hired 20 bankers in the last 6 months for the wealth management business in Asia, hiring Credit Suisse Martin Loh as Head of China, Standard Chartered Kate Lin as CEO of Taiwan, and other senior hires including Morgan Stanley Tiffeny Situ, Citigroup Wendy Chan, Angela Yang & Vicky Liu. BNP Paribas Wealth Management CEO APAC is Arnaud Tellier, with the wealth management business managing $80 billion AUM in Asia (Assets under Management).
“ $447 Billion BNP Paribas Private Bank Launches Onshore Wealth Management in Thailand, Target to Increase Relationship Managers Covering Thailand & AUM by 3x In the Next 3 Years, Thailand is Southeast Asia 2nd Largest Economy with $495 Billion GDP & 71 Million Population “
Arnaud Tellier, Asia CEO of BNP Paribas Wealth Management: “Thailand, as the second-largest economy in Southeast Asia, is a country filled with dynamic entrepreneurs. Its strategic regional importance has driven significant growth, leading to accelerated wealth creation. BNP Paribas has been operating in Thailand for 45 years, currently serving more than 500 corporates and institutions. Our wealth management team is leveraging this established presence and collaborate with our corporate and institutional bank to offer tailored and innovative solutions to even better address the increasingly sophisticated business and private wealth needs.”
Vincent Lecomte, CEO of BNP Paribas Wealth Management: “BNP Paribas Wealth Management is the leading private bank in the Eurozone and has a long track record of serving entrepreneurs and families worldwide. Capturing the significant opportunities presented by Asia’s rapidly growing wealth is a core strategic priority for our wealth management business. With our ‘One Bank’ approach, robust financial standing, diversified operations, and comprehensive offerings, we are uniquely positioned to provide our clients in Asia with the full spectrum of solutions and services expected from a globally leading bank.”
$447 Billion BNP Paribas Private Bank Launches Onshore Wealth Management in Thailand, Target to Increase Relationship Managers Covering Thailand & AUM by 3x In the Next 3 Years, Thailand is Southeast Asia 2nd Largest Economy with $495 Billion GDP & 71 Million Population
BNP Paribas Wealth Management
BNP Paribas Wealth Management is a leading global private bank and the largest private bank in the Eurozone with €415 billion worth of assets under management as at December 2023. Present in three hubs in Europe, Asia and the Middle-East, it employs 6,800 professionals who support High-Net-Worth and Ultra-High-Net-Worth individuals in protecting, growing and passing on their assets. The bank aims at building a sustainable future by combining its deep expertise and reach with its clients’ influence and desire for impact.
BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporate and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
BNP Paribas Hired 20 Bankers in Last 6 Months for Wealth Management in Asia, Credit Suisse Martin Loh Hired as Head of China, Standard Chartered Kate Lin as CEO of Taiwan & Senior Hires Including Morgan Stanley Tiffeny Situ, Citigroup Wendy Chan, Angela Yang & Vicky Liu, BNP Paribas Wealth Management CEO APAC is Arnaud Tellier & Manages $80 Billion AUM in Asia
11th January 2024 – French bank BNP Paribas has hired 20 bankers in the last 6 months for the wealth management business in Asia, hiring Credit Suisse Martin Loh as Head of China, Standard Chartered Kate Lin as CEO of Taiwan, and other senior hires including Morgan Stanley Tiffeny Situ, Citigroup Wendy Chan, Angela Yang & Vicky Liu. BNP Paribas Wealth Management CEO APAC is Arnaud Tellier, with the wealth management business managing $80 billion AUM in Asia (Assets under Management).
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