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June 13, 2007 -

Expansion of BNP Paribas Wealth Management Business in Taiwan – Launch of Kaohsiung-based team as second flagship unit

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Taiwan – BNP Paribas Wealth Management Taiwan today announced the opening of its Kaohsiung-based team as its second flagship unit in Taiwan. This is part of the Bank’s natural development as it pursues a bigger presence in the rapidly-growing wealth-management market in Taiwan.

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.”

Christine Chan
Corporate Communications Manager,
BNP Paribas, North & East Asia

Tel: +852 2909 8847