2019 BNP Paribas Global Entrepreneur Report: deep-dive into the investments of the most successful entrepreneurs
The fifth edition of the BNP Paribas Wealth Management Global Entrepreneur Report unveils the preferred private investments of the most successful international entrepreneurs - the Elite Entrepreneurs - and the trends shaping their portfolio allocation choices.
- Equities are Elite Entrepreneurs’ top portfolio choice: responding enthusiastically to rising stock markets, they invested more in equities (20,2%).
- 85% of Elite Entrepreneurs actively support other entrepreneurs through private investments into high-potential companies. HNW business owners favor private equity (63% have used PE investment vehicles). The most enthusiastic advocates of private investments are Millennials, who are twice as likely as Baby Boomers to have invested in venture capital funds, start-ups or to hold angel investments.
- Technology comes out as the top growth catalyst for future investments: 55% of Elite Entrepreneurs currently invest in tech companies, more than any other sector. The appetite for tech is most voracious in Belgium (79%), India (74%) and Singapore (70%).
- Responsible investing is a top five growth sector especially for the wealthiest: 37% of UHNWs believe responsible investing represents one of the most promising opportunities for the coming five years: Sustainable & Responsible Investments (SRIs) are ranked second for their investment potential. Those based in China, the UK and Spain are the most convinced.
Vincent Lecomte, co-CEO of BNP Paribas Wealth Management, explained: “We already knew how Elite Entrepreneurs keep their entrepreneurial mindset when it comes to their private investments. However, this study demonstrates a clear acceleration: these entrepreneurs want to have an impact through their investments as they have with their company. The rise of private investments and SRIs are a clear consequence of this growing expectation.”
“While their search for impact has become more strategic, entrepreneurs are still looking for investment performance.” added Sofia Merlo, co-CEO of BNP Paribas Wealth Management. “We measured that with this year’s unprecedented interest of Elite Entrepreneurs for stock markets. That’s why we continue to invest in our capacity to advise them with our Chief Investment Officers’ network based in the USA, Europe and Asia, leveraging a selection of 10 annual investment themes.”
The research methodology, powered by Scorpio Partnership, involved an online survey programme with 2,763 multi-millionaire entrepreneurs in 23 countries, representing a total net worth of USD 16 billion.
Notes to editors
BNP Paribas Wealth Management is a leading global private bank and the largest private bank in the Eurozone. Present in three hubs in Europe, Asia and the US, over 6,800 professionals provide a private investor clientele with solutions for optimising and managing their assets. The bank has €377 billion worth of assets under management (as at 30/09/2018) and was elected “Best Private Bank for Entrepreneurs” in 2016 and 2017. BNP Paribas Wealth Management leverages all of the Group’s capabilities to help entrepreneurs build a bridge between professional and personal projects at each step of development of their company.
Scorpio Partnership is the leading insight and strategy consultancy to the global Wealth industry, owned by Aon plc. We specialise in understanding high net worth individuals and the financial institutions with which they interact. We have developed four transformational disciplines – SEEK, THINK, SHAPE and CREATE – each designed to enable business leaders to strategically assess, plan and drive growth.These include market research studies, client engagement programmes, brand assessments and business intelligence initiatives.
Scorpio Partnership has conducted more than 450 global assignments across Wealth for institutions in the banking, fund management, family office, law, trust, regulation, technology, insurance and charity sectors. During these assignments, we have interviewed over 100,000 private investors and advisors. Scorpio Partnership is an Aon company. For more information, go to www.scorpiopartnership.com
Vincent Lecomte is co-CEO of BNP Paribas Wealth Management. He previously served as its Chief Operating Officer (COO).
In 2005, Lecomte became Deputy Head of the Personal Investors business line and Deputy Chief Executive Officer of Cortal Consors, a subsidiary of BNP Paribas. He held several positions in the consulting field before joining Paribas’ Securities Services business in France in 1992. He also spent three years in Germany as Head of the securities business. Lecomte is a graduate of ESCP Europe.
Sofia Merlo began her career at Paribas in September 1985 as an account manager in the large corporates division, before continuing in various sales positions, cross-business and branch manager roles, working with clients from all sectors (corporates, associations, private banking).
In 1995, she took up an initial position in Human Resources as Head of Recruitment. In late 1996, she was appointed Director of the Bordeaux Corporate business centre, representing the bank in the Aquitaine region. She then rejoined the Group’s Human Resources department in late 2000, first as a career manager, before being promoted Group Head of Career Management in mid-2004.
In 2009, she became Sales Director for French Private Bank before being promoted in 2010 Head of the French Private Bank and simultaneously joining in 2010 the G100 which gathers the 100 Top Executives of BNP Paribas Group.
She was appointed in January 2012, Co-Head of the Wealth Management business worldwide.
She is also Member of the Board of Directors of BNP Paribas Fortis, Member of the Board of BMCI Morocco and Member of the Board of Linedata Services.
She is also Member of the Club XXIè Siècle since 2016 and of its board since February 2018.
Within her professional activities, Sofia Merlo is engaged in promoting the women entrepreneurship in France but also at international level. She has launched in 2015 with Women Initiative Foundation, the BNP Paribas Women Entrepreneur Program at Stanford that gathered women entrepreneurs all over the world.
Graduated from HEC Paris in 1985