private bank press conferencemay 11, 2001 - brussels 1 françois debiesse
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Press conference May 11, 2001 - Brussels
1
Private Bank
François DEBIESSE
Press conference May 11, 2001 - Brussels
2
Private Bank
Source : Merrill Lynch / Gemini Consulting World Wealth Report 2000
(estimated world-wide HNW financial assets, in USD trillion)
44.9
25.521.6
19.1
1997 1998 1999 2004(E)
+12%p.a.
Increasing share of financial assets in the households’ wealth
Boom in entrepreneurial wealth
Growing use of corporate equity as part of executive compensation
Overall market appreciation
TREMENDOUS MARKET OPPORTUNITY
Press conference May 11, 2001 - Brussels
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Private Bank
STILL FRAGMENTED INDUSTRY(Top ten private banks world-wide as of end of 2000)
EUR 2.3 trillion in AuM
~ 8% market share
Top 10 Private Banks
BNP Paribas PB
HSBC
Bank of America PB
Merrill Lynch IPC
Citigroup PB
Deutsche Bank
J.P. Morgan PB
UBS PB 448
351
318
291
210
163
153
140
122
104
Credit Suisse PB
Goldman Sachs PWM
Press conference May 11, 2001 - Brussels
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Private Bank
INCREASING COMPETITION
Merger of HNW Brokerage and Asset Management Groups to form Goldman Sachs Private Wealth Management
Fortis to pursue its business development in Continental EuropeBank of America targeting private
banking as a priority business
Launch of NatWest Private Banking
Deutsche Bank targeting to be in the top 3 private banks world-wideCitigroup Private Bank entering into
cross-selling initiatives with Salomon Smith Barney
ING committed to increase private banking positions through vigorous
organic growth
UBS to lever PaineWebber’s expertise and on-line technology in
the European on-shore markets
Credit Suisse to implement new business model for affluent clients in Europe
Creation of Merrill Lynch Private Wealth Services to deliver institutional-quality solutions to its wealthiest clients and
their families
SG Private Banking targeting to expand its reach in Europe and Asia
Acquisition of US Trust by Schwab
Sanford Bernstein acquired by Alliance Capital (AXA)
Press conference May 11, 2001 - Brussels
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Private Bank
BNP PARIBAS
Merger of BNP and Paribas in May 2000
Rapid integration with synergies ahead of schedule
Strong increase in profitability in recent years with a net profit of:
EUR 2.1 MM in 19981
EUR 3.3 MM in 19991
EUR 4.1 MM in 2000
Organization in three core businesses:
Corporate and Investment Banking
Wealth Management
Retail Banking1 Pro forma BNP Paribas before restructuring provisions
Press conference May 11, 2001 - Brussels
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Private Bank
A KEY PLAYER IN THE PRIVATE BANKING INDUSTRY
Long-standing tradition and reputation in serving the wealth management needs of high-net-worth individuals
Top 10 world-wide in private banking
Undisputed leader in France
Strong positions in all major international private banking centers in Europe and Asia
Investments in the most attractive markets
Presence in 30 countries
3’000 dedicated staff
EUR 108 MM in client assets
Data as of end of March, 2001
Press conference May 11, 2001 - Brussels
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Private Bank
COMPREHENSIVE OFFERING
Investment Funds Advisory Desk
Securities Advisory Desk
Structured & Derivative Products
Cash and Deposit Management
Custody Credit Fiduciary Services
Real Estate Advisory
Art Advisory
Property Advisory
Client
Private BankerDiscretionary Management
Corporate Advisory
Execution DeskTax and Estate
Planning
Financial
Offering
Wealth Management
Offering
Press conference May 11, 2001 - Brussels
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Private Bank
ADVICE-DRIVEN OFFERING
Architecture open to the best products available in the market
World-wide organization by product / service category
Local adaptation of the offering to client profile, needs, and culture
Aggregation and coordination of a broad offeringallowing to provide products and services adapted to the diverse
financial and wealth management needs of high-net-worth individuals
Press conference May 11, 2001 - Brussels
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Private Bank
AMBITIOUS BUSINESS DEVELOPMENT STRATEGY
To be a referencein our target markets
Pursue the development of marketing capabilities
Preserve a reputation for innovation and adaptation regarding the product and service offering
Ensure strong visibility and credibility in our target markets
Pursue investments in IT and systems to ensure state-of-the-art client service and operations
Press conference May 11, 2001 - Brussels
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Private Bank
INCREASING PRESENCE IN THE EUROPEAN ONSHORE MARKET
Leader in France
Significant positions in Southern Europe (Italy, Spain, Greece, Portugal)
Launch of Belgian operations
Will to become a reference in each selected market
Press conference May 11, 2001 - Brussels
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Private Bank
STRONG COMMITMENT IN BELGIUM
Acknowledged expertise of BNP Paribas in onshore private banking
Accurate knowledge of Belgium and Belgian high-net-worth individuals
Core operation in the business development strategy of the Private Bank
Will to quickly becomea key private bank in the Belgian market
Press conference May 11, 2001 - Brussels
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Private Bank
BNP Paribas Private Bank
Lode De Vrieze
Press conference May 11, 2001 - Brussels
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Private Bank
May 2000Merger of BNP and Paribas
• Paribas in Belgium since start in 1872
• BNP in Belgium from 1911
Press conference May 11, 2001 - Brussels
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Private Bank
• Top 10 of the world
• Leader in France
• Important player in Europe and Asia
• Will to become a reference in Private Banking
Start-up in Belgium
Press conference May 11, 2001 - Brussels
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Private Bank
BNP Paribas Private BankBelgium
• Organization
• Target
• Offering
Press conference May 11, 2001 - Brussels
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Private Bank
Organization
Press conference May 11, 2001 - Brussels
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Private Bank
BNP Paribas Private BankBelgium
• Situated in Brussels, 489 Avenue Louise
• Team of 20 people, mainly portfoliomanagers and specialists in wealth-engineering
• Aim to open rep-offices in main cities : Antwerp, Kortrijk, Gent or Liège
Press conference May 11, 2001 - Brussels
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Private Bank
Target
Press conference May 11, 2001 - Brussels
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Private Bank
BNP Paribas Private Bank BelgiumTarget
• People with an important fortune,
• high-net-worth individuals :
~ stockholders of family-owned companies (quoted or not)~ holders of important stock-options~ family-holdings with important free assets...
Press conference May 11, 2001 - Brussels
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Private Bank
COMPREHENSIVE OFFERING
Investment Funds Advisory Desk
Securities Advisory Desk
Structured & Derivative Products
Cash and Deposit Management
Custody Credit Fiduciary Services
Real Estate Advisory
Art Advisory
Property Advisory
Client
Private BankerDiscretionary Management
Corporate Advisory
Execution DeskTax and Estate
Planning
Financial
Offering
Wealth Management
Offering
Press conference May 11, 2001 - Brussels
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Private Bank
Financial offering
Press conference May 11, 2001 - Brussels
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Private Bank
What’s important for a HNWI in his relation to his Private Banker ?
Performance Advice Adapted offer
Source : Enquête VIP Forum
66%53% 45%
Press conference May 11, 2001 - Brussels
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Private Bank
• Well-structured investment process (Asset-allocation)
• Research «Buy-side» by dedicated team of analysts
• Market-specialists in 15 countries
• Direct access to markets by dedicated execution-teams
Performance
Press conference May 11, 2001 - Brussels
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Private Bank
What’s important for a HNWI in his relation to his Private Banker ?
Performance Advice Adapted offer
Source : Enquête VIP Forum
66%53% 45%
Press conference May 11, 2001 - Brussels
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Private Bank
Focus on Advice
Advice on products(funds, structured products)
Advice on securities(stocks, bonds, derivatives, FX)
Discretionary management
(risk-profile, personalisation)
Credit
Advice on Asset-allocation
Execution All Markets/All Products
Press conference May 11, 2001 - Brussels
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Private Bank
What’s important for a HNWI in his relation to his Private Banker ?
Performance Advice Adapted offer
Source : Enquête VIP Forum
66%53% 45%
Press conference May 11, 2001 - Brussels
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Private Bank
A large offer of mutual funds
Selection of best funds of the market
EUR 1 bn under management
Parvest (76 compartments)
French & international funds
Advice on funds
Private Bank
Multi-ManagementBNP PAM
Funds BNP PAM
Offer of alternative fund(hedgefunds, private equity funds)
Press conference May 11, 2001 - Brussels
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Private Bank
Structured Products, Derivatives : optimisation, diversification and hedging
Hedging of the portfolio
Structuring and selection of products by Private Bank
Warrants, certificates
Complex strategiesPersonalized strategies and constructions
Structured Products
Access to listed and quoted products Guaranteed funds
Press conference May 11, 2001 - Brussels
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Private Bank
Wealth Management Offering
Damien LAHY
Press conference May 11, 2001 - Brussels
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Private Bank
Wealth Management
• To listen
• To analyse
• To advice
• To accompany
Press conference May 11, 2001 - Brussels
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Private Bank
Components of the wealth management offering
– Wealth and estate planning– Art advisory– Real estate advisory– Property advisory– Corporate advisory– Reception service
Press conference May 11, 2001 - Brussels
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Private Bank
Wealth and Estate Planning
• Personalized diagnosis on estate and family issues
• Trust-driven relationships, over several generations
• Coordination with external advisors (lawyers,…)
Press conference May 11, 2001 - Brussels
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Private Bank
Art Advisory
– Advice, authentication and valuation assistance
– Legal and tax issues
– Transactions
Press conference May 11, 2001 - Brussels
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Private Bank
Real Estate Advisory
– Specialization in up-market residences
– Synergies with the Group’ s specialized subsidiaries
Press conference May 11, 2001 - Brussels
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Private Bank
Corporate Advisory
– Synergies with the Group’s Corporate Finance business unit
Press conference May 11, 2001 - Brussels
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Private Bank
Reception service
– Setting up in new cities or countries : assistance
– « Golden keys »: schools, accommodation, legal assistance,…
– The Group ’s world-wide network at the client ’s disposal
Press conference May 11, 2001 - Brussels
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Private Bank
Our strenghts
– Family office-concept
– Important international Group
– Need of our customer = Our offer
• Performance
• Advice
• Financial and Wealth management offering
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