2019 Universal registration document and annual financial report - BNP PARIBAS12
1 Presentation of the BnP PariBas GrouP
1
Presentation of operating divisions and business lines
Building on a unique model, BNP Paribas Cardif co-creates its products and services with more than 500 of the BNP Paribas Group s internal and external distribution partners. This multi-sector partner network comprises banks, credit institutions, financial institutions, car manufacturers, retailers, telecoms, brokers and financial advisors.
In 2019, BNP Paribas Cardif entered into two major alliances. In Latin America, BNP Paribas Cardif and Scotiabank signed a strategic bancassurance alliance. This 15-year strategic alliance provides for the development of protection and insurance solutions for Scotiabank s 9 million customers in Chile, Colombia, Mexico and Peru. BNP Paribas Cardif s multichannel and analytics expertise will enable Scotiabank to offer innovative solutions and new experiences for its customers in these countries.
In addition, in the United Kingdom, Sainsbury s Bank and Argos, the BNP Paribas insurance arm, partnered to launch Sainsbury s Bank s Pet insurance.
WEALTH MANAGEMENT BNP Paribas Wealth Management encompasses BNP Paribas Private Banking activities and caters for all the wealth management and financial needs of a clientele of wealthy individuals, shareholder families and entrepreneurs.
With EUR 393 billion in assets under management in 2019, and close to 7,000 employees, BNP Paribas Wealth Management is a world leader in the Private Banking sector and the largest Private Bank in the euro zone.
Operating in Europe, Asia, the Middle East and the United States, BNP Paribas Wealth Management is now the European domestic market leader and continues to be a major global player in Europe, Asia and the United States.
In 2019, the business grew organically in the German and Asian markets, and via acquisitions following the integration of the Private Banking business of ABN Amro in Luxembourg and Raiffeisen in Poland, acquired in 2018.
Relying on the BNP Paribas integrated model, BNP Paribas Wealth Management benefits from the Group s full range of resources and is structured to support its customers in different markets. In Europe and the United States in particular, the development of the Private Banking business is backed by BNP Paribas Retail Banking networks. In Asia, the private bank is supported by the Bank s historic presence in the market and by Corporate & Institutional Banking s businesses to meet the most sophisticated needs.
To meet the specific needs of its entrepreneur customers, its experts create tailor-made solutions to build bridges between their private and business wealth in order to devise a wealth management strategy.
Due to its global approach, international network of specialists and customised solutions, BNP Paribas Wealth Management offers high value-added products and services, tailored to its customers needs and aspirations:
■ wealth planning services;
■ financial services: advisory services in asset allocation, selection of investment products, discretionary portfolio management;
■ customised financing;
■ expert diversification advice: vineyards, artworks, real estate or philanthropy;
■ sustainable investments: supporting its customers in their sustainable investment planning and combining financial performance with social and environmental impact.
Innovation is at the heart of its offering: BNP Paribas Wealth Management continues to expand its range of digital solutions, thus offering a unique experience tailored to each individual customer s journey.
2019 was marked by the growth of sustainable development and responsible investment-themed products and services with, in particular, the roll out of the myImpact digital tool which is used to help define customers impact profile.
A new E-private service model was also launched in France, offering the most independent customers a fully remote relationship using electronic signatures, new remote contact methods, as well as services tailored to their needs and level of assets.
BNP Paribas Wealth Management was recognised in 2019 as:
■ Best Private Bank in the world(1);
■ Best Private Bank in Europe(2) for the eighth year running, in France for the seventh time in eight years(3), no. 1 in Belgium(3), no. 1 in Italy for the fifth consecutive year(4) as well as in Luxembourg(5), Poland(5), Monaco(5), Turkey(4) and Morocco(1);
■ Best Private Bank in Hong Kong(6)
■ Best Private Bank in the Western United States(1);
■ Best Private Bank in the Middle East and North Africa(7);
■ Best Private Bank for high net worth individuals in Western Europe(5);
■ Best Private Bank for philanthropic advice(7), and digital culture(3).
(1) Global Finance.
(2) Private Banker International.
(3) PWM.
(4) World Finance.
(5) Euromoney.
(6) Asset Asian Awards.
(7) WealthBriefing Awards.
