BNP Paribas Wealth Management - a trusted partner to diversify and grow your assets
Asia’s rich are characterised by a large number of firstgeneration billionaires who made their fortunes from a wide range of enterprises, a point made by Andy Chai, managing director and head of Hong Kong Market for BNP Paribas Wealth Management.
“As a result, they are determined to achieve the same success in their investments, demanding the best services and most relevant products from their advisors,” says Chai.
He adds that longterm strategy on wealth management in Asia is in the bank’s DNA and a key factor of its leadership position in the region. “Our business plan is ambitious; one that keeps an undivided focus on our clients’ needs. As a group, we provide a full range of awardwinning financial products and solutions to meet our clients’ needs and to build long-term relationships with them; it remains one of our hallmarks at BNP Paribas Wealth Management.”
On new-generation clients who have received ownership and management of their family businesses and are looking beyond traditional investments, Chai says, “It is a total solution they are looking for. Other than wealth accumulation, young Asian entrepreneurs increasingly expect their banking partners to provide comprehensive services encompassing both wealth management and corporate and investment banking needs.”
He adds that this is especially true in the rapid growth economies of China, India, and Southeast Asia, where there lacks an obvious distinction between business and personal wealth.
‘’With a holistic approach, our clients can access the
full range of our corporate and investment banking infrastructure and offerings. This will enable us to propose meaningful bespoke solutions based on their personal objectives and risk appetite,” says Chai.
Anton Wong, managing director and head of Key Clients Group, points out that this holistic approach is also reflected in BNP Paribas Wealth Management’s differentiated suite of offerings to the Key Clients Group, making it a leading one-stop shop for ultra-high net worth clients.
“We have dedicated teams of professionals, with different backgrounds and disciplines such as investment banking and passion investments, within our team to ensure seamless delivery of banking solutions based on the client’s needs,” says Wong.
On investment philosophy for 2015, Stephanie Lair, managing director and head of Investment Services, Asia Pacific for BNP Paribas Wealth Management, says, “Increasingly, it is getting more difficult to forecast which asset class will outperform year after year. To avoid undue exposure, it is prudent that investors adopt a portfolio diversification approach to mitigate risks. This is especially necessary during time of crisis.”
“We always emphasise to our clients the importance of asset allocation by investing in different asset classes (like bonds, equities and alternative investments) and in different markets,” says Lair. “Based on the investor’s goals, risk tolerance and investment horizon, the investor can design an investment strategy by finding the appropriate weighting to each asset class to balance the risks and returns. More importantly, investors should review the risk-return profile of their portfolios regularly over time.”
In addition to direct participation in various asset classes, she says clients should consider investing in funds that provide multi-asset incomes that match their investment objectives.
On the investment horizon, Lair says, “Thanks to some increases in both corporate investments and consumer spending, as well as less fiscal drag in some countries, growth rates will remain subdued in historical comparisons, partly because of further deleveraging and structural reform needs in mature economies, and partly because the main emerging countries have growth models that are in transition.”
She points out that on a global basis, it is difficult to find catalysts for a substantial improvement in final demand.
“The best economic prospects are found in the US and the UK. Both will initiate the rate hike cycle but the absence of inflationary threats means that monetary authorities of both countries will move cautiously in their attempts to reduce accommodation. Looking at the other major countries, monetary conditions will remain very supportive.’’
Andy Chai, managing director and head of Hong Kong Market for BNP Paribas Wealth Management
Stephanie Lair, managing director and head of Investment Services, Asia Pacific for BNP Paribas Wealth Management