Two 2020 Euromoney Global Awards for BNP Paribas
BNP Paribas has been named “World’s Best Bank for Corporates” and “World’s Best Bank...
Arriving at BNP Paribas Real Estate in 2007 as an economist, and later promoted to Global Head of Research in 2017, Richard Malle talks about the realities of his profession and the research challenges within banking.
Based on this information, we produce studies on markets in different countries and major cities in Europe… Ultimately, our goal is to support our clients in developing their real estate investment strategies by providing analyses that help them make informed decisions.
We also produce ad-hoc studies to provide a detailed response to an investor’s specific request. For example, “what impact will the Grand Paris have on different real estate markets?” or “how will the boom in coworking and remote work affect demand for office space?”
In this context, analyses and forecasts are valuable tools that investors need to make their real estate decisions. In response, our research department staff has doubled over the past 10 years.
Moreover, for the past 15 years, real estate has emerged as an asset class of its own in Europe. It has become an essential product in any investment portfolio, for institutional and private investors alike.
“ A taste for analysis, of course, that is both accurate and objective. But also a taste for change, because practices and tools are always changing. And this trend is always accelerating! ”
Global Head of Research
It’s also a position that is full of challenges. For example, we want to boost our position as a leader in real estate research, by encouraging more dynamic exchanges between countries so we can work together better and develop common projects, all within markets with contrasting practices, cultures and economic situations!
Living through several major economic crises over the past ten years—the subprime crisis, followed by the European sovereign debt crisis, the Brexit referendum, the U.S. elections, etc. Each of these events could have compelled us to adjust our forecast analyses. These events were rarely included within our base scenarios, and sometimes occurred the night before or even on the same morning we had to give an important presentation to a panel of clients. Dealing with those situations demands flexibility, as well as humility, in the complex practice of forecasting markets.
After completing my thesis, I was named director of the Research France department in 2010, then Global Head of Research in 2017. I am also an associate professor at the Conservatoire National des Arts et Métiers (CNAM) in France, where I teach real estate economics.