Thailand

BNP Paribas Strengthens Thai Market Presence with Wealth Management Expansion

BNP Paribas Wealth Management is expanding its operations in Thailand, initiating its on-ground wealth management services through its local entity, BNP Paribas Securities (Thailand) Limited. This expansion aims at enhancing its market footprint and asset management for local clients.

The financial institution has set ambitious goals to triple its team of relationship managers dedicated to Thai clients, along with their managed assets, within the next three years.

Arnaud Tellier, the Asia CEO of BNP Paribas Wealth Management, highlighted Thailand's critical role in the bank's regional strategy, noting its position as Southeast Asia's second-largest economy, its vibrant entrepreneurial environment, and its significant contributions to regional economic growth and wealth generation.

Forbes reported a nearly 15% increase in the combined wealth of Thailand’s wealthiest individuals to $173 billion in 2021, despite economic challenges. Furthermore, the Hurun Global Rich List of March 2023 spotlighted Thailand as a leading nation in Southeast Asia in terms of billionaire population, with 46 individuals each worth at least $1 billion, making it 11th globally.

This surge in wealth has spurred a demand for advanced wealth management services, including wealth planning, international investments, and family governance strategies.

BNP Paribas Securities Thailand's operational model strategically blends local client service with offshore account management, providing Thai clients access to the bank’s Singapore-based platform while maintaining close relationships with their managers.

The bank offers a comprehensive suite of services, such as asset management, wealth advisory, brokerage services, and a variety of investment opportunities in assets like equities, bonds, hedge funds, and structured products.

With a 45-year history in Thailand, BNP Paribas currently serves over 500 companies and institutions, utilizing its longstanding local presence and its collaboration with the corporate and institutional banking sectors to provide innovative and customized solutions for complex business needs.

As a global leader in private banking and the largest in the Eurozone, BNP Paribas Wealth Management oversees €415 billion in assets as of December 2023. With a global presence across Europe, Asia, and the Middle East, it employs 6,800 professionals dedicated to assisting wealthy and ultra-wealthy individuals in asset protection, growth, and succession planning.