The FINANCIAL — BNP Paribas announces that it is combining BNP Paribas' existing private banking activities with those of Fortis Private Investment Management and Insinger de Beaufort UK under the BNP Paribas Wealth Management brand.
The combined business will offer a broad range of investment and wealth management services in addition to financing and structuring solutions for both onshore and international clients.
According to BNP Paribas, the new business manages over £5.5 bn in assets and employs 130 people and will be led by Ligia Torres. Ligia was previously Head of Fixed Income Corporate and SAS Origination and Sales, EMEA at BNP Paribas, responsible for developing strategic business with corporate, sovereign, agency and supranational clients. Prior to joining BNP Paribas in 1997, Ligia also spent ten years at “Union Europeene du CIC” (Group CIC) in Paris.
In addition to offering cross asset class investment solutions and tax, legal and fiduciary services BNP Paribas Wealth Management UK's clients will benefit from dedicated teams focussing on tailor made investment products, philanthropy, art and estates. BNP Paribas Wealth Management will also offer a range of financing solutions.
”Following the integration of our complementary businesses we now have a critical mass in the UK wealth management market. This together with our extensive and unique product offering and the backing of one of the world safest, strongest and largest banking groups puts us in an extremely strong position to grow our business over the coming years”, said Ligia Torres.
