The largest bank in the eurozone, BNP Paribas, announced on Tuesday (Apr. 18) that its wealth management arm will debut in Thailand in order to increase its market share in Asia.
According to the bank, the new wealth management division would use the Singapore-based platform of BNP Paribas to give clients access to global capital markets.
Daniel Peter has been appointed as the unit’s chief executive in Thailand by BNP Paribas.By having a presence there, international banks are able to take advantage of the wealth in Southeast Asia. In 2018, Credit Suisse received regulatory approval to open its wealth management operation in the Philippines.
