BNP Paribas Private Bank and Thanachart Securities Public Company Limited (Thanachart, a member of the Thanachart Group), are pleased to announce a strategic business alliance for the servicing of high networth individuals. The two companies will work together to develop wealth management services adapted to the Thai market. Thanachart Securities believes that its alliance with BNP Paribas Private Bank will drive its proficiency to the level of international standards. The development of strategic partnerships in wealth management with strong local or regional players constitutes a key aspect of BNP Paribas Private Bank's global growth strategy.
Mr. Suphadej Poonpipat, CEO of Thanachart Group, said, “BNP Paribas Private Bank and Thanachart Securities have agreed to cooperate in the field of Wealth Management. Thanachart Securities is already partnering with BNP Paribas' Corporate and Investment Banking. We are convinced that this additional strategic alliance with an experienced and credible player as BNP Paribas Private Bank will enhance our private fund management capability, product design expertise and asset advisory skills to handle high networth individuals. We believe that our domestic market share will increase as a result of this cooperation with BNP Paribas Private Bank.”
Mr. Michel Longhini, Chief Executive Officer of BNP Paribas Private Bank Asia, stated, “We are delighted to develop this alliance in Wealth Management with Thanachart Securities. Given Thanachart's proven track record in the Thai securities market, we believe that their intelligence and insights coupled with our international offering in private wealth management will be a powerful combination to develop together in the Thai market.”
Both partners believe that this will be a mutually-rewarding alliance in respect of their services to sophisticated individuals.
About Thanachart Securities
Thanachart Securities Public Company Limited (Thanachart) is a member of the “Thanachart Group”，one of the leading finance and securities houses in Thailand. Thanachart provides fully integrated financial services to its customers. The Thanachart Group has an asset size of approximately USD10 bn with total of 176 Thanachart Bank Plc.'s branches according to the continuing branch expansion policy in order to service clients in all regions of Thailand. As of March 2008, Thanachart Securities has 30 branches in Thailand. In 2004, Thanachart Securities received the “Best Local Brokerage in Thailand over the last 14 years” Award from Asiamoney Magazine.
About BNP Paribas Private Bank
BNP Paribas Private Bank is an integral part of BNP Paribas Private Banking, a division of BNP Paribas Group, benefiting from the same solidity and ratings. BNP Paribas Private Bank is the undisputed market leader in France and is in the top 12 worldwide, managing more than USD 230 bio in Assets. It is present in 30 countries worldwide, from the Americas to Europe, from the Middle East to Asia. In Asia, Private Banking has a presence in Singapore, Hong Kong, China, Taiwan and India. The product and service offering of BNP Paribas Private Banking is one of the most comprehensive in the world, including Discretionary Portfolio Management, Securities Advisory and Brokerage, Investment Fund Advisory, Derivatives / Structured Products and a comprehensive range of wealth management advisory services.