Founded in 1958, the BNP Paribas Hong Kong branch is already serving the robust and dynamic regional hub of North Asia region representing one of the most important platforms of the Group outside Europe. All core businesses of the Group are represented in Corporate and Investment Banking (CIB) and Asset Management and Services (AMS). CIB activities are balanced between advisory, capital markets and financing businesses while the AMS division is provided by the private banking and investment partners teams. Today, this region accounts for a core contributor to the Group in terms of business growth.
To honour the celebration of this special occasion, Baudouin Prot, Group Chief Executive Officer, highlights that, “Hong Kong represents our largest establishment in Asia with significant revenue contributions to the BNP Paribas Group.”
“I am confident that Hong Kong will continue to flourish as a result of the opportunities brought about by the burgeoning regional economy. With the continuous development and ongoing projects, I see further growth and strength for our Hong Kong presence as well as North Asia,” he added.
Commenting on the 50th Anniversary in Hong Kong, Mignonne Cheng, Head of North Asia and Chief Executive of BNP Paribas Hong Kong Branch said, “We will continue to grow aggressively in all areas and continue to invest in this region, particularly in China and in the area of human resources.“
“Going forward, we are confident about the future business outlook of this region. Despite the global economic conditions, the Greater China region still presents huge potential for business. We will continue to renew our commitment for the next 50 years.”
BNP Paribas now ranks as one of the top foreign banks in the market and this Anniversary reaffirms our continuous commitment to Hong Kong.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 4 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with almost 163,000 employees, including near 127,000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
About BNP Paribas North Asia
In North Asia, BNP Paribas is organized around the dynamic regional hub of Hong Kong with its business primarily comprising two core areas composing of more than 2,500 staff in Hong Kong, China and Taiwan:
Corporate and Investment Banking
Corporate and Investment Banking activities are balanced between advisory and capital markets (Corporate Finance, Equities, Fixed Income, Equities and Derivatives), and specialized financing (Structured Finance, Energy Commodities Export Project). The client coverage organization manages the bank's client portfolio along with Financial Institutions, Large Corporates and a team of Senior Bankers who maintain close relationships with individual clients.
Asset Management and Services
This is the asset-gathering arm of the Group which includes Private Banking and BNP Paribas Investment Partners. Serving high net worth individuals, BNP Paribas Private Bank offers personalized portfolio engineering and diversification advice. The BNP Paribas Investment Partners team, organized by client category, provides client-specific offers and personalized local services.
In October 2005, BNP Paribas signed an agreement to buy 19.2 per cent of Bank of Nanjing (BON). The partnership with BON includes a range of business activities, building on BON's knowledge and distribution strength of the local market, and BNP Paribas' product skills in areas including retail banking, credit cards, wealth management and corporate banking. As of July 2007, BNP Paribas owns a 12.6 per cent stake in BON. BNP Paribas' plans with BON include building the consumer-finance business through a partnership with Cetelem. Already present in China, Cetelem has a state-of-the-art platform for consumer-finance products and an operating partnership with BON.