BNP Paribas consolidates its international positions
Established in 63 countries and territories, the Group is consolidating its positions to provide its customers with solutions that meet their needs as closely as possible. Focus on some flagship diversification and development projects.
Opening of an office in Florida
On 6 December 2023, BNP Paribas officially opened the doors of its new office in the heart of the financial centre of Miami. This strategic position brings it closer to its customers, in particular asset managers and institutional clients, which are increasingly establishing operations in this fast-growing region.
Strategic life insurance partnership in Italy
BNP Paribas Cardif entered into a strategic alliance with the cooperative banking group BCC Iccrea, the second largest banking group in Italy (by number of branches). This long-term partnership involves the acquisition of a 51% stake in BCC Vita, the life insurance company of the BCC Iccrea group, in order to deploy their sales force across the 115 local banks and strengthen the range of savings products. The Group’s insurer is thus continuing to diversify into new distribution networks while remaining true to its mission: to make insurance more accessible.
Creation of a wealth management joint venture in China
BNP Paribas Asset Management and ABC Wealth Management, the wealth management arm of Agricultural Bank of China, one of the largest commercial banks in China, partnered to form a wealth management joint venture. 51% owned by BNP Paribas Asset Management, BNP Paribas ABC Wealth aims to meet the growing demand from Chinese investors for access to diversified asset management products.
Launch of a wealth management business in Thailand
BNP Paribas Wealth Management has launched a wealth management business in Thailand. Building on its leading positions, particularly in Hong Kong, Singapore and Taiwan, BNP Paribas Wealth Management is reinforcing its wealth management activity on the Asian continent. This new wealth management entity facilitates access to international capital markets for its customers, high-net-worth individuals and entrepreneurs with their families, by leveraging BNP Paribas’ extensive platform in Singapore.