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BNP Paribas Wealth Man­age­ment - a trusted part­ner to di­ver­sify and grow your as­sets

Hong Kong Tatler - - Tatler Focus Bnp Paribas Wealth Management -

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

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