BNP Paribas Wealth Management (BNP Paribas WM) on Tuesday announced the launch of its Thailand onshore wealth management business, with a former Credit Suisse banker appointed as CEO.
The bank said the decision demonstrates its commitment to growing BNP Paribas’ wealth management capabilities in Asia. The new wealth management business in Thailand will provide clients with access to international capital markets by leveraging BNP Paribas WM’s platform in Singapore.
“With the launch of the wealth management capabilities, we are now able to offer a comprehensive array of wealth management solutions that allow us to better serve HNWI and their families in Thailand,” Arnaud Tellier, Asia CEO of BNP Paribas WM commented.
BNP Paribas WM also appointed Daniel Peter as CEO for WM Thailand, subject to regulatory approvals.
He arrives from Credit Suisse’s onshore Thailand business, where he was most recently onshore team leader for almost five years. He departed the bank in January 2023, Asian Private Banker revealed.
Before that, he was with UBS from 2010 to 2018 in Singapore. Peter started his career with Credit Suisse in Zurich in 2007.
“With Peter’s appointment, we are well-positioned to meet the evolving wealth needs of our clients in Thailand and the rest of Southeast Asia,” Tellier continued.
Separately, Pawan Amornprayoon, another former senior banker from Credit Suisse, has also joined BNP Paribas onshore Thailand wealth management as a senior relationship manager, according to a personal LinkedIn profile update.
Amornprayoon started her wealth management career with Credit Suisse in Singapore in 2013, and became a senior relationship manager in 2019.
BNP Paribas is the latest global private bank to make inroads into onshore Thailand. HSBC Global Private Banking launched its Thailand onshore private banking business in 2021.
People familiar with the matter told Asian Private Banker that there could be more Credit Suisse onshore Thailand bankers moving to BNP Paribas as the recent merger of UBS and Credit Suisse is worrying bankers of the Swiss lenders.
BNP Paribas confirmed the appointment of Amornprayoon.