Private banking: Where to focus?
Which regions and countries offer most opportunity?
Boris Collardi, chief operating officer, private banking, Bank Julius Baer
While traditional markets in Europe are still very important to us, in the coming years we will be seeing the majority of our growth coming out of the emerging markets: eastern Europe, Latin America, Middle East and Asia. In 2006 we opened two offices in Asia (Hong Kong and Singapore) as well as an office in Buenos Aires and are also looking at further projects in these growth regions. In the next five years, about a quarter of our assets under management should be coming from these growth regions. Nevertheless, we are not neglecting the markets that are traditionally our strongest. During this past year we have also opened four offices in Germany for onshore clients – in Frankfurt, Düsseldorf, Stuttgart and Hamburg – and one in western Switzerland, in the attractive tourist region of Crans Montana.
François Debiesse, global head of BNP Paribas Private Banking
BNP Paribas Private Banking is actively growing in its different markets.