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BNP Paribas reshuffles APAC wealth management leadership
FRENCH bank BNP Paribas has announced a handful of changes at the top of its wealth management division in the Asia Pacific (APAC).
Andy Chai and Arnaud Tellier were promoted to co-chief executive officers (co-CEOs) for wealth management in APAC, effective Oct 8.
They replace the outgoing APAC wealth chief, Pierre Vrielinck, who will return in December to a senior leadership role within the division in France. BNP said he had made “excellent” contributions to refocusing growth of the franchise during his tenure.
Meanwhile, David Lim was named head of wealth management for Singapore and South-east Asia - taking over the role from Mr Tellier - on top of his existing position as co-head of South-east Asia markets. Based in Singapore, Mr Lim reports to Mr Tellier.
As co-CEOs, Mr Chai and Mr Tellier assume joint responsibility for the strategic direction and operations of the wealth franchise in the APAC region.
Both of them have rich experience spanning corporate and institutional banking as well as private banking, said CEO APAC of BNP Paribas Group, Eric Raynaud.
Based in Hong Kong, Mr Chai has oversight of the Greater China markets (which include mainland China, Hong Kong and Taiwan), and also leads the strategic client segment across Asia. His new role will be held concurrently while he remains as head of wealth management for Greater China.
Mr Tellier covers the South-east Asia, India and international markets. Investment services and key support functions will also report to him.
The two new APAC wealth heads will report hierarchically to co-CEO of BNP Paribas Wealth Management, Vincent Lecomte, and functionally to BNP’s CEO APAC Mr Raynaud.
Meanwhile, veteran banker Mignonne Cheng will remain as Asia chairman for wealth management. Ms Cheng had been the division’s former CEO for APAC, until Mr Vrielinck took over the role in 2017.
Commenting on the appointments, Mr Lecomte said on Tuesday: “Asia represents a key growth engine for BNP Paribas Wealth Management and we are committed to deepening our engagement with our private clients.”