BNP Paribas targets Thai wealth market with onshore expansion

BNP Paribas has expanded its wealth management services into Thailand, establishing an onshore presence through BNP Paribas Securities (Thailand) Limited. The French bank aims to significantly grow its Thai operations, planning to triple both the number of its relationship managers and client assets within three years. This move taps into Thailand’s vibrant economy and burgeoning wealth, leveraging BNP Paribas Wealth Management Asia CEO Arnaud Tellier’s observation of the country’s dynamic entrepreneurship and regional significance. The subsidiary will offer clients a blend of onshore engagement and offshore account management, providing a suite of services from its Singapore platform, including asset management, wealth planning, and investment opportunities in various financial instruments. CEO Vincent Lecomte highlighted Asia’s growing wealth as a strategic priority, emphasising BNP Paribas’s comprehensive approach and robust capabilities in serving Asian clients.