Bank of the West, part of the BNP Paribas’ global wealth management business, has opened its newest wealth management center in Palo Alto, California.

The new centre, located at 531 Cowper Street, will offer comprehensive wealth management as well as banking services.

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Bank of the West chairman and CEO Michael Shepherd said: "We consider it a privilege to serve the families and businesses of Silicon Valley. Our new Palo Alto wealth management center builds upon our long tradition in this vibrant community dating back to 1874, when our bank was founded in San Jose."

John Bahnken, senior executive vice president for wealth management group at Bank of the West, said: "Bank of the West is proud of our growth and expansion in Silicon Valley, which is in many ways the epicenter of innovation and entrepreneurship in America.

"The opening of the wealth management center is another way we are continuously striving to provide our customers the outstanding service they expect and deserve," Bahnken added.

The new branch adds to the bank’s other wealth management centers in California’s San Francisco, Palo Alto, Walnut Creek, Newport Beach, Los Angeles, Beverly Hills, Pasadena, as well as in Omaha, Nebraska, Overland Park, Kansas, and Denver.

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