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BNP Paribas launches a private bank in Morocco: BMCI-BNP Paribas Banque Privée

The private bank opened in Casablanca on 22 January 2010, in the presence of Michel Pébereau, Chairman of BNP Paribas, Marie-Claire Capobianco, Head of BNP Paribas Wealth Management Networks, and André Chaffringeon, Head of Region Mediterranean for BNP Paribas Retail Banking. Supported by BNP Paribas' Moroccan subsidiary BMCI, it will serve private clients, business owners and entrepreneurs. BMCI-BNP Paribas Banque Privée will provide its clients with solutions that are personalised, based on an in-depth analysis of their situation and their individual needs, offering them a wide array of financial products and investment options.

The Private Bankers based in Casablanca and Rabat will be supported by three dedicated departments: Wealth Planning for legal and tax matters; a Marketing Team that will develop products and services dedicated to private banking clients; and an Advisory Desk to provide financial advice and management. This line-up is completed by a dedicated department for high-net worth individuals that will deliver “family office-style” advice and guidance to clients who have specific issues relating to the scale of their wealth and are looking for tailored solutions.

The new structure means that private banking clients will benefit from the advice of a single contact person, who will look after the entirety of their needs, from day-to-day banking to wealth structuring. These Private Bankers will be able to deal with any issues relating to the preservation, growth and transfer of private wealth and will draw on the bank's experts to implement the adopted strategies. BMCI-BNP Paribas Banque Privée clients will, therefore, have access to a dedicated product and service offering and will enjoy exclusive treatment at Private Banking Centres.

The new private bank – part of BMCI's Private and Professional Customers entity and BNP Paribas' Wealth Management Networks – will be headed by Meryem Kabbaj, who has been appointed Director of Private Banking at BMCI.

The project has been developed in close cooperation between the teams at BNP Paribas Wealth Management Networks in Paris and BMCI. It is built around the global client relationship model that BNP Paribas Wealth Management is introducing in all countries where BNP Paribas has a domestic client base. Supported by the branch network, private banking enjoys privileged links with the branches, while offering its clients the know-how of its Wealth Management teams in areas such as asset allocation and philanthropy.

About BMCI
BMCI ( whose majority shareholder is BNP Paribas Group is a universal banking corporation serving all client types: private individuals (including Moroccans living abroad), professionals, large companies and institutions, and small and medium-sized companies. Meeting its clients' needs through a network of over 250 branches across Morocco, BMCI offers the expertise and knowledge of its ten subsidiaries and specialist boutiques. BMCI has a broad range of capabilities including corporate finance, asset management, capital markets transactions and leasing.
The Bank is certified ISO 9001 (2000) for its trade finance capabilities and international transfers. Through the BNP Paribas Trade Center based in Casablanca, BMCI holds a position of reference in international trade business.

About BNP Paribas Wealth Management
•BNP Paribas Wealth Management is the eurozone's leading private bank. Active in nearly 30 countries, it had 238 billion euros of assets under management at the end of September 2009. More than 5,300 wealth management professionals based in every major global centre help its client base of private investors to optimise and manage their assets.
•BNP Paribas Wealth Management Networks was created at the end of 2008 to support the development of private banking activities in every country where the BNP Paribas Group has a domestic customer base. Supported by the Retail Banking entity in a joint venture with Investment Solutions, the business line is located in three of the group's major domestic markets: France, Italy and Belgium. It also launched Wealth Management in Germany in June 2009 and BMCI-BNP Paribas Banque Privée in Morocco in January 2010.