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July 7, 2010 -

BNP Paribas Wealth Management changes its governance structure

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The private banking market is evolving: its growth potential over the coming years is significant, and the introduction of new G20 regulations will necessarily lead to change. Under these circumstances, to better respond to our clients’ expectations and to leverage the strengths of BNP Paribas Wealth Management, both geographically and in terms of expertise, the bank has decided to change the business’ governance. The bank will bring its wealth management operations under a single business line, Wealth Management, under the leadership of Jacques d’Estais (who will retain his responsibilities as Head of Investment Solutions).

It has therefore been decided to create a consolidated governance structure in order to enhance the synergies between the geographic regions and the support functions:

  • 5 geographic zones have been defined: Asia Pacific; Euro Domestic Markets and New Domestic Markets; International Europe (including the Middle East and Latin America); and
    Luxembourg. These zones have been assigned, respectively, to Mignonne Cheng,
    Marie-Claire Capobianco for all domestic markets, Pascal Boris and Patrice Crochet.

  • 3 transversal functions will support the development of these zones. The first is Products & Services, under the responsibility of Olivier Maugarny. A UHNWI (Ultra High Net Worth
    Individuals) centre of expertise has been created; its organisation will be announced later.
    Finally, a COO entity, bringing together the functions of the business line, that will be entrusted to Vincent Lecomte.

Mignonne Cheng*, Marie-Claire Capobianco, Pascal Boris*, Patrice Crochet, Olivier Maugarny
and Vincent Lecomte will be the members of the Executive Committee of BNP Paribas Wealth
Management, together with Jacques d’Estais.

Press release (43 ko)