MAJOR WINS AT WEALTHBRIEFING AWARDS : INTERVIEW OF HUBERT MUSSEAU

What sets you apart from your peers this year and why ? 

H.M. BNP Paribas Wealth Management is a leading global private bank and the largest private bank in the Eurozone with more than €422 billion worth of assets under management as of December 2021. Organized through three hubs in Europe, Asia and the United States, we have over 6,800 professionals who support High-Net-Worth and Ultra-High-Net-Worth individuals in protecting, growing and passing on their assets. We aim at building a sustainable future by combining our deep expertise and reach with our clients’ influence and desire for impact.

One of our key differentiating factors relative to our peers is our "OneBank" approach which brings our clients access to the entire BNP Paribas Group,  including retail banking, corporate and investment banking and our asset gathering businesses  and to highly sought-out solutions from experts in the Real Estate, Asset Management, Prime Brokerage Services, M&A, ....

We have been recognized by WBA for our credit offer and our structured product offer.

- Our strong Credit Offer provides our clients with a full range of credit solutions, with a dedicated team of senior credit structurers who are able to bring sophisticated transactions to fruition. Our offer covers the full spectrum of financing possibilities, from plain vanilla Lombard to structured credit solutions including single stock lending, cash flow or illiquid asset financing, residential and commercial real estate financing.

- In the field of Structured Product, our clients appreciate our capacity to adapt and innovate.  Our “Positive Banking” vision combines our banking DNA with our commitment to build a more sustainable world. At  Wealth Management, we believe it is our role to provide our clients the solutions to invest according to their needs,  values and convictions, so they may impact positively the world that surrounds us. This year, once again, we innovated in the field of Sustainable Investment with our Carbon Serenity solution, which is what led to this recognition from WealthBriefing.

We have also been recognized Highly Commended by WBA for our Wealth Planning Team and for ESG .

- Our Wealth Planning Team is at the centre of our interactions with clients, giving them the opportunity to discuss about very personal and crucial matters such as inheritance planning, family governance and relocation processes. We are very proud of the expertise and the added-value that such service can bring to our clients, especially in an international and constantly evolving environment. WPS is also key in terms of training within our institution, giving our bankers the opportunity to remain informed about legal and tax changes affecting their client’s jurisdictions. At BNP Paribas, we believe in a multilateral and integrated approach towards our client, not focusing only on investments and performance but also on transmission and protection of the family’s interests.

- In regard with our ESG capabilities, we know that no country, business or individual can win in the long term in a world that loses. BNP Paribas realized the role finance has to play in the transformation of society twenty years ago and has been working since to create new business models.

We mobilize all our financing and investment, employer, purchase and sponsorship activities to contribute to this transformation. In the wealth management business, our responsibility is to design innovative sustainable investment solutions aimed at empowering our clients to invest with a positive impact.

On their side, our employees are committed not only in their daily jobs, but also through many opportunities offered by the bank to volunteer for social or environmental causes.

We lead this transformation because our employees want to create a bank they can explain to their children. 

How have your colleagues contributed towards the success of your organization?

H.M. The success of our organization stems from the quality and the passion of our people, their expertise, commitment, values and hard work.

I also believe that a strong collaborative culture between teams is essential to lay the ground for success.

This of course locally, but also globally in order to leverage our organisation and find the best solutions with the relevant experts in the organisation to meet our client’s needs.  

What are you going to do to stay on the front foot in a fast-growing but also challenging region such as this?

H.M. BNP Paribas Wealth Management has a strong growth ambition in the coming years, mostly driven by a growing footprint on the Swiss onshore market.  Our driving pillars are to become the "Bank of choice" for international Swiss residents and Germans investing in Switzerland as well as to accelerate our growth in the Middle East region.

We will reinforce our position as a front-runner in  Environmental Social & Governance  (ESG) and leverage on our sustainable value proposition.

We continue to invest heavily in developing our digital platforms to ensure our clients and staff have the most up-to-date tools to stay  informed and be able to respond to market evolutions. We are also looking to grown our high-net-worth and ultra-HNW segments, notably entrepreneurs and large families.

What have been the challenges you have to overcome to reach such a standard?

H.M. The current challenges in our industry are a very low (sometimes negative) interest rate environment, increasing volatility, constant evolutions in the regulatory environments, and all this in the context of an unprecedented health crisis.

Our mission at BNP Paribas Wealth Management is to help and transform these complex challenges into opportunities for our clients and continue to accompany our clients to successfully achieve their ambitions. 

Whom do you look to for inspiration and ideas?

H.M. We believe our clients have the extraordinary power to impact the world. So yes, our very first inspiration comes from our clients themselves. Since 2019, we have been engaged in a continuous quality improvement loop involving our clients directly. Applying the Net Promoter Score® methodology, we have collected hundreds of feedback from our clients directly in order to hear their ideas, convert them into concrete actions plans and improve our offer and services. Our clients all have different outlooks, but frequently share a number of common interests and concerns.

Another source of inspiration is society itself and how it is evolving. Our investment strategy team is constantly monitoring the latest trends in order to identify new developments (metaverse, circular economy, innovation…) and transform them into investment thematic solutions such as our 5 investment themes for 2022. 

What do you hope will be the result this accolade and how does it help your business in the region?

H.M. We are very proud to receive these accolades. These are very prestigious awards in our industry, and they are the recognition of the hard work put in by our teams  as well as an endorsement of our strategy. It is also a testament to our strategic growth plan, our vision and purpose. These rewards reflect our ambition to be the best every year and push us to strive for excellence. We are convinced they will provide even more visibility to our franchise, and help us continue growing in this industry.