Wide Coverage, Flexibility Worked for BNP Paribas Wealth Management
What would you say differentiated you from your peers this year? Describe your firm and its operations.
BNP Paribas Group has been present in Asia for nearly 160 years. BNP Paribas Wealth Management benefits from the stability, global capabilities, and high end positioning made possible from being a part of the BNP Paribas global banking group, making us an attractive proposition for extremely wealthy entrepreneurs and their families.
We are a full service private bank that serves leading Asian business families. We have a significant and growing base of clients in each of our chosen markets as well as a good mix of top tier clients and family offices, ultra-high net worth individuals, high net worth individuals from Hong Kong, mainland China, Taiwan, Singapore, Indonesia, Malaysia, Thailand and India.
One of BNP Paribas Wealth Management’s key competitive advantages is its “One Bank” approach, an integrated banking model that offers clients a full range of investments, business solutions and family services; including wealth planning, trust and insurance referral and individual philanthropy.
Our ‘in-house’ strengths range from equity, fixed income, FX, funds, structured products and discretionary portfolio management, to much more specialised offerings such as sustainable
investments, private debt and equity, investing into French vineyards, and financing for asset classes such as business jets, super yachts and European real estate.
BNP Paribas has a very strong credit culture relative to other wealth management players. This means that at BNP Paribas Wealth Management, financing for complex equity transactions, jets, yachts, and European real properties are areas where we are knowledgeable.
The high calibre of our in-house credit structurers and our approach in risk management ensure that our clients’ credit lines are supported by a bank that best understands their needs.
Our sustainable investing platform also sets us apart because BNP Paribas globally is a pioneer in this area. We have one of the strongest ranges of associated products and services for private clients and family offices in this region.
Our strengths as a global financial institution, our scale and strong advisory capabilities to serve clients and our commitment to being a reliable partner is well-positioned to navigate turbulent business climates as we currently face.
How have your colleagues contributed to the success?
People are our biggest asset. BNP Paribas Wealth Management has continued to attract and retain some of the best talent in the industry thanks to our award-winning platform and the power of our brand.
Our colleagues across the region work tirelessly to ensure we provide highly tailored, holistic services to our clients while ensuring that we always put the interests of our clients first. As a partner in achieving our colleagues’ professional goals, we constantly review and fine-tune their objectives to make sure they can succeed.
Please give examples of where your firm has made most improvements and what services and products would you like to highlight?
As the needs of Asia’s ultra-wealthy evolve amid an uncertain global landscape, we continue to attract private banking clients who are drawn to our award-winning investment platform, and the wide-ranging services we offer as a global bank. BNP Paribas Wealth Management’s deep capabilities in the areas
of sustainable and environmental, social and corporate governance investing, and our growing investment in digital client solutions, further resonate with a younger generation of high net worth clients.
What advice would you give to others seeking to chase excellence in the wealth management sector?
There will always be challenges in our quest for excellence. New competition, rising customer expectations and digitalisation are key drivers of change. New technologies and innovation are disrupting the wealth management industry.
Clients look for a strong banking partner, like BNP Paribas Wealth Management, that can support them in bad times, as well as good times and this always becomes more evident during a crisis. Now more than ever, we need to continue to offer best-in-class service across the whole range of our activities and operate at sufficient scale to ensure efficiency.
We are confident that this will ensure our continued excellence and performance for our clients.
This article was first published in WBA Greater China Awards 2020 magazine ‘Acclaim’