BNP Paribas Wealth Management Focuses on ‘Green Yacht Financing’
Arnaud Tellier explains that BNP Paribas Wealth Management is a global leader in yacht financing due to its focus on financial sustainability.
What type of clients does BNP Paribas Wealth Management have in Asia?
We have a good mix of top-tier tycoons and family offices, ultra high-net-worth individuals (UHNWIs) and high-net-worth individuals (HNWIs) from Hong Kong, mainland China, Taiwan, Singapore, Indonesia, Malaysia, Thailand and India.
The BNP Paribas global banking group has been present in Asia for nearly 160 years, so our penetration of top tycoons is significant and growing in each of our chosen markets.
BNP Paribas Wealth Management benefits from the stability, global capabilities and high-end positioning of BNP Paribas, making us an attractive proposition for wealthy entrepreneurs and their families.
We are constantly seeking innovations to capture the evolving needs and tastes of Asia’s wealthy individuals, and in response to the rapid growth in UHNWIs, we’ve increased investments in our coverage teams.
What are the bank’s leading asset groups? How does yacht financing fit in?
Our in-house strengths range from equity, fixed income, FX, funds, structured products and discretionary portfolio management to more specialised offerings such as sustainable investments, European real estate, private debt and equity, French vineyards and also financing for asset classes such as superyachts, business jets and properties.
How does the bank support financing for such large assets?
BNP Paribas has a very strong credit culture relative to other wealth management players. This means that at BNP Paribas Wealth Management, we are not only knowledgeable in financing for complex equity transactions – such as superyachts, private jets, property – but we are also happy to support them with our own balance sheet.
The high calibre of our in-house credit structurers and our penchant for risk management mean our clients’ credit lines are supported by a bank that understands them.
How important is financial sustainability to the bank?
BNP Paribas has strategically and fully integrated the practice of sustainability into the very fabric of our organisation. We see sustainability as a driver of long-term, responsible business growth for both our clients and our franchise.
Helping clients, employees and stakeholders make a positive impact on the environment and the society is one of the pillars of BNP Paribas’ strategy. We are an early mover in championing sustainability and impact investing in all the group’s business lines.
BNP Paribas Group was proud to be named the world’s best bank for sustainable finance at Euromoney Awards for Excellence 2018, as it shows that our peers and the industry have recognised our efforts to instil a sustainable culture internally and at all levels of product and service delivery.
We’re also delighted that there’s increased acceptance and understanding of sustainable and environmental, social and governance (ESG) investments among private clients.
In fact, since 2016, the Wealth Management team and our clients have been key participants at BNP Paribas’ annual Sustainable Future Forum in Singapore, a top pan-Asia conference on sustainable finance which has gained prominence on the global stage not only for its relevance and influence but also because of the strong credibility of BNP Paribas as a host.
As a leading global private bank, BNP Paribas Wealth Management is conscious of the fact that the banking industry needs to play a part in forging green finance. And being a leader in financing yacht owners for over a decade and building an outstanding track record, we are at the forefront of making sustainability a key part of our value proposition.
How does this focus on green finance affect yacht-financing clients?
We have put in place special credit programmes to advance the agenda for financing environmentally-friendly yachts, with green certification and/or scientific research functionalities; owners who are willing to offset the carbon emissions of their yachts; and owners who are committed to invest their asset under management with BNP Paribas Wealth Management into positive impact funds.
We expect all product lines within BNP Paribas Wealth Management to champion sustainability among our clients. Our shipping and yacht financing team are also contributing actively, with innovative structures like positive incentive loans or to offset part of clients’ emissions by investing in low-carbon products.
These and many upcoming initiatives enable us to move a step further to support our planet. We have been a steadfast supporter of building the sustainability ecosystem in Asia through organising and participating in various industry initiatives and events, sharing best practices as well as increasing educational events to raise awareness. We shall continue to engage our clients on sustainability.
You’ve also teamed up with a leading environmental expert.
In Asia, we began a partnership last year with Craig Leeson, the award-winning film-maker, storyteller and environmental expert who, through his movie A Plastic Ocean, has brought into focus the perils of plastic pollution in our oceans.
What else should readers know about BNP Paribas Wealth Management?
One of our key competitive advantages is our ‘One Bank’ approach, an integrated banking model that offers clients a full range of investments, business solutions and family services, including wealth planning, trust and insurance referral and individual philanthropy.
What does the future hold for the Wealth Management division in Asia?
BNP Paribas Wealth Management Asia continues to be a key growth area for BNP Paribas Group. This year and beyond, we are embarking on projects to enhance our client service, development of sustainable revenue sources, empowerment of people, simplification of processes, talent management, discipline and efficiency, and delivering more value to clients from our ‘One Bank’ platform.
Arnaud Tellier is CEO, Asia Pacific at BNP Paribas Wealth Management and is responsible for defining and implementing the strategic objectives for the wealth management franchise in Asia. This position follows his most recent role as Head of Wealth Management, Singapore and Southeast Asia. He has held prior leadership roles as Head of Investment Services, Asia from 2015-2018 and CEO, BNP Paribas Wealth Management in Singapore from 2013-2015. Tellier has spent more than 20 years in capital markets and senior positions in Corporate and Investment Banking, as well as Wealth Management, across Europe and Asia. Tellier has held senior positions within the Group in London, Paris and Madrid. In 2002, he was appointed Regional Head of Corporate and Investment Banking – Northern & Central Europe and from 2006-2010, the CEO and Country Head for Greece. Tellier was Head of Corporate and Investment Banking for Turkey from 2010-2013.