BNP Paribas' wealth management unit to launch in Thailand

BNP Paribas, the eurozone’s biggest bank, said on Tuesday (Apr 18) its wealth management arm will launch in Thailand to expand its presence in Asian markets.

The new wealth management unit will provide clients access to international capital markets by using BNP Paribas’ platform in Singapore, the bank said.

BNP Paribas named Daniel Peter as chief executive of the wealth management unit in Thailand.

Global banks are tapping into Southeast Asian wealth by having a presence in the countries. Credit Suisse got regulatory approval in 2018 to launch its wealth management business in the Philippines. REUTERS