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September 28, 2018

BNP Paribas Wealth Management goes on German hiring spree

BNP Paribas Wealth Management Germany has appointed a new CEO and plans 150 local hires by 2020.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Michael Arends was appointed CEO on 1st September and forms part of the firm’s development strategy for Germany, which targets growth in the HNW/UHNW space.

BNP Paribas Germany CEO Lutz Diederichs said: “The development of our wealth management business is an integral part of the German growth plan which aims for an 8% per year increase in Germany, so as to reach €2 billion in revenues by 2020.”

Arends has spent more than three decades in the banking industry. He previously was the executive committee member of Bethmann Bank.

He also held the role of global head of private wealth management at ABN Amro Bank and was the executive committee member of the wealth management arm at UBS Deutschland.

BNP Paribas Wealth Management co-CEO Vincent Lecomte said: “Germany is a key market for our business. We’re looking to grow in the high net worth segment, especially among Mittelstand entrepreneurs, through an international approach in conjunction with the Group’s Investment Banking and Real Estate divisions, which are already well-established in Germany.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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