The BNP Paribas Group further expands its business in Germany and is active from now in wealth management services. BNP Paribas Wealth Management is headed by Pascal Grundrich (51), who joined the group last year and has more than eleven years of experience in Private Banking. The new business line starts with offices in Frankfurt and Munich and will employ 15 people. This team offers personalised portfolio engineering and diversification advice, tailored to the specific needs of wealthy client, backed by a range of carefully selected products and supported by dedicated experts.
As largest private bank of the eurozone (189 bn. EUR assets under management) BNP Paribas wants to provide German affluent clients the opportunity to benefit from the experience and security of the bank. The wealth management business is integrated in the existing German network of the group and uses in the background the IT-platform of the direct bank subsidiary Cortal Consors, specialized bank for savings and brokerage. Personal wealth advisors care for the wealthy clients with individual solutions and services.
”Germany is with more than 800.000 millionaires an interesting market. The past months have shown how important it is to handle assets risk sensitive. BNP Paribas as one of the most stable banks worldwide is capable to offer their clients safety and innovation”, explains Grundrich.
About BNP Paribas Wealth Management
BNP Paribas Wealth Management, a wholly-owned subsidiary of BNP Paribas, is the business line globally in charge of wealth management services. This business line has a solid base in the world's major private banking markets, being present in more than 30 countries. With EUR 189 billion* of client assets in 2009, BNP Paribas Wealth Management is the 1st Private Bank in the Eurozone and the 7th Global Private Bank.
*Including Insinger de Beaufort and Fortis
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the 6 strongest banks in the world according to Standard & Poor's*. With a presence in 85 countries and more than 205,000 employees, 165,200 of which in Europe, BNP Paribas is a global-scale European leader in financial services. It holds key positions in its three activities: Retail banking, Investment Solutions and Corporate & Investment Banking. The Group benefits from its four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
* Within its peer group