One of the hallmarks of BNP Paribas Wealth Management’s strategy and success in wealth management is how it not only deploys strong capabilities specific to private banking, like discretionary portfolio management, but also the wider capabilities of the group. Corporate and institutional banking, markets, asset management, real estate, private equity: these are all group strengths at BNP Paribas, and highly relevant for its wealth management business.
Nowhere are these strengths more apparent than in Europe, which accounts for the bulk of its private banking and wealth management business, although it also has growth and relevance in Asian markets such as Hong Kong and across southeast Asia. The firm’s wealth management presence extends across 17 European countries. In the eurozone, it is a clear leader in terms of assets under management, and this leadership extends well beyond its historic home market in France.
Prior acquisitions of large universal banks in markets such as Belgium, Luxembourg and Italy have transformed BNP Paribas into a long-time top-tier wealth provider in those markets.