BNP Paribas Wealth Management plans to expand its local coverage and client asset base as it officially launches its onshore wealth management presence in Thailand, through BNP Paribas Securities (Thailand) Limited.
The bank believes it can triple the number of relationship managers covering clients in Thailand and their assets over the next three years.
Commenting on the importance of the Thai market to the regional business, Arnaud Tellier, Asia CEO of BNP Paribas WM, said, “Thailand, as the second-largest economy in Southeast Asia, is a country filled with dynamic entrepreneurs. Its strategic regional importance has driven significant growth, leading to accelerated wealth creation.”
According to Forbes, the combined wealth of Thailand’s 50 richest increased by nearly 15% to $173bn in 2021 despite a challenging macro-environment. The latest Hurun Global Rich List, published in March 2023, identified Thailand as the billionaire capital of Southeast Asia, with 46 billionaires (each worth at least $1bn) in 2022, ranking it 11th in the world.
This rising wealth is driving greater demand for sophisticated wealth planning, international investment and family governance.
BNP Paribas Securities Thailand operates in a way that combines onshore client engagement with offshore account management. This model offers local Thai clients access to BNP Paribas’ platform based in Singapore while ensuring close interaction with their relationship managers.
The range of solutions it provides includes traditional asset management, wealth planning, advisory services, brokerage services, and access to investment opportunities in a broad range of asset classes such as equities, fixed income, hedge funds, and structured products.
“BNP Paribas has been operating in Thailand for 45 years, currently serving more than 500 companies and institutions. Our wealth management team is leveraging this established presence and collaborate with our corporate and institutional bank to offer tailored and innovative solutions to address the increasingly sophisticated business
BNP Paribas Wealth Management is a leading global private bank and the largest private bank in the Eurozone with €415 billion worth of assets under management as at December 2023.
Present in three hubs in Europe, Asia and the Middle East, BNP Paribas WM employs 6,800 professionals who support high net worth and ultra high worth individuals in protecting, growing and passing on their assets.
