Edmund Shing has been appointed chief investment officer of BNP Paribas Wealth Management.

Shing has over 21 years of experience in financial markets in a number of positions across Europe. Since 2015, he has been global head of equity and derivative strategy at BNP Paribas in London.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Furthermore, he has a PhD from the University of Birmingham.

In his new role, Shing will be responsible for piloting the BNPP WM investment strategy. In addition, he will continue to rollout recommendations and themes with actionable advice that brings expertise to clients and client-facing teams.

Shing is replacing Florent Brones, who has moved onto a project with a charitable organisation.

BNP Paribas Wealth and Asset Management arm has reported a fall in its Q3 2020 pre-tax profit, amid a challenging market. The group performance too suffered but surpassed analyst expectations, driven by trading boom.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Key Wealth and Asset Management metrics

The division’s pre-tax income was €146m ($170.8m) for the three-month-period ending September 2020, a fall of 14% compared to €170m in the same quarter of 2019.

Gross operating income decreased to €136m from €154m.

The impact of a low-interest-rate environment on Wealth Management coupled with the pandemic’s impact on Real Estate Services led to a 9% year-on-year decrease in the unit’s revenues to €734m.

Operating expenses dropped 8% to €598m, driven by a fall in Real Estate Services costs and transformation measures mainly in Asset Management.

Total assets under management (AuM) reached €1.11trn at the end of September 2020.

The figure marks a 1% fall from the December-end 2019, driven by a strong fall in the financial markets in Q1 2020, offset by a rebound in Q2 and Q3.