BNP Paribas has decided to create a consolidated wealth management governance structure to enhance the synergies between the geographic regions and the support functions.
BNP Paribas will bring the wealth management operations under a single business line, wealth management, under the leadership of Jacques d’Estais (who will retain his responsibilities as head of investment solutions).
BNP Paribas has defined five geographic zones: Asia Pacific; Euro Domestic Markets and New Domestic Markets; International Europe (including the Middle East and Latin America); and Luxembourg. The zones have been assigned, respectively, to Mignonne Cheng, Marie-Claire Capobianco for all domestic markets, Pascal Boris and Patrice Crochet.
The three transversal functions will support the development of the zones. The first is products and services, under the responsibility of Olivier Maugarny. A UHNWI (Ultra High Net Worth Individuals) center of expertise has been created; its organization will be announced later. Finally, a COO entity, bringing together the functions of the business line, that will be entrusted to Vincent Lecomte.
Mr Cheng, Mr Capobianco, Mr Boris, Mr Crochet, Mr Maugarny and Mr Lecomte will be the members of the executive committee of BNP Paribas Wealth Management, together with Mr d’Estais.