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BNP Paribas' wealth management unit to launch in Thailand

Reuters
Updated ·1-min read
FILE PHOTO: Illustration shows BNP Paribas Bank logo

(Reuters) - BNP Paribas, the euro zone's biggest bank, said on Tuesday its wealth management arm will launch in Thailand to expand its presence in Asian markets.

The new wealth management unit will provide clients access to international capital markets by using BNP Paribas' platform in Singapore, the bank said.

BNP Paribas named Daniel Peter as chief executive of the wealth management unit in Thailand.

Global banks are tapping into Southeast Asian wealth by having a presence in the countries. Credit Suisse got regulatory approval in 2018 to launch its wealth management business in the Philippines.

(Reporting by Navya Mittal in Bengaluru; Editing by Savio D'Souza and Shounak Dasgupta)