The move represents a milestone in the development of BNP Paribas Wealth Management business in Taiwan, since its inception in the market less than two years ago. In October 2005, BNP Paribas Wealth Management started business in Taipei, and has since then, been recording solid performance in terms of client in-take, product and service offering as well as market penetration. The new branch in Kaohsiung is designed to cater to the high net worth individuals (HNWIs) residing in southern Taiwan. With its comprehensive product offering, it will reinforce BNP Paribas' leading position on the Taiwanese wealth-management market.
Mr. Claude Haberer, Chief Executive Officer for BNP Paribas Private Bank, Hong Kong and North Asia, said: “We are very encouraged by the rapid growth of the Taiwan wealth-management market over the last two years. With one of the world's most comprehensive product and service platforms, coupled with a winning team, I am very confident that we will establish a strong foothold in Kaohsiung, our second “flagship” operation in this market.
Mr. Jean-Louis Tourné, Managing Director of BNP Paribas Wealth Management Taiwan, said: “Taiwan is a very promising market for WM business. In 2005, the number of Taiwanese Millionaire Household (in USD) reached 210,000 or an impressive 2.9% of the Taiwanese Households.
Besides, their combined wealth has increased in a single year (from 2004 until 2005) by 3% to 1700 Billlion USD.
About BNP Paribas BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, and ranks among the world's top 15 banks by market capitalization. It has 150 000 employees, almost 120 000 of whom are based in Europe. The group occupies leading positions in three significant fields of activity: Corporate and Investment Banking, Asset Management & Services and Retail Banking. It is present in 85 countries and has a strong presence in all the key financial centres. Present throughout Europe, in all its business lines, France and Italy are its two domestic markets in retail banking. BNP Paribas enjoys a significant and growing presence in the United States and leading positions in Asia and in emerging markets.