BNP Paribas Wealth Management (BNP Paribas WM) APAC held its flagship next-generation event in Hong Kong last week, gathering hundreds of next-generation leaders at Hong Kong’s brand new landmark building, The Henderson.

This year marked the 17th year that BNP Paribas WM hosted its flagship “Asia NextGen Experience” for next-generation and emerging leader clients in Asia to explore the future of wealth and innovation. Vincent Lecomte, CEO of BNP Paribas WM, and Arnaud Tellier, Asia Pacific CEO, were among the senior bankers in attendance.

The French Bank this year chose Hong Kong as the main location, followed by a visit to Shenzhen to tour leading companies in the technology sector, with clients from other regions also attending.

How to engage properly with next-generation family members has become a key concern for private banks, anticipating an estimated US$83.5 trillion in assets to be passed down to the next generation over the next 20 to 25 years.

Arnaud Tellier, BNP Paribas Wealth Management

Next-generation family members tend to prefer to interact with fewer bankers, Tellier said at a recent APB event, posing a huge challenge to the industry. “For sure, they (next-generation clients) won’t entertain a group of 15 bankers. They very much prefer a group of four or five bankers, which is going to be really our challenge for the future,” he said.

“The Asia NextGen Experience underscores BNP Paribas Wealth Management’s dedication to fostering a vibrant community of future leaders in the wealth management space. It is a testament to its commitment to empowering the next generation of leaders by providing them with the insights, connections, and experiences they need to thrive in today’s complex world,” BNP Paribas said in a note.

From venture capital to family business

The focus of this year was “Leadership and the Future of Business.” Former banker and now business and investment leader of Gaw Capital, Christina Gaw, and Tony Yeung, CEO of family-owned private entrepreneurial company the Peterson Group, were the co-keynote speakers at the event.

BNP Paribas Next Gen 2024

The event covered content from family business leaders, leading venture capitalists, successful entrepreneurs and innovators. The event also welcomed several tycoon families’ next-generation family members to share their entrepreneurial journeys.

“A central theme throughout the event was the need for agility and adaptability in today’s rapidly changing world. Speakers emphasised the importance of maintaining a global outlook while staying connected to local markets,” the bank said.

Sustainable investing, the evolving landscape of esports and gaming, and the future of live entertainment were also covered by leaders in the respective fields, reflecting the diverse interests of the next generation of leaders.

The second day featured a visit to Shenzhen, showcasing the region’s rapid innovation. Participants toured leading companies in the technology sector.

New client hotspot?

BNP Paribas WM was also the first private bank in the region to hold an event at Hong Kong’s new landmark building, The Henderson. Situated in Central, Hong Kong, The Henderson welcomed its first tenants in June 2024 and is tipped to be a future hotspot for client events.

28 August 2024: The Henderson, Hong Kong

Designed by Zaha Hadid Architects (which also designed UBS’s future West Kowloon offices, still under construction) with modern artistic design and sustainability elements, The Henderson currently houses auction house Christie’s, Swiss luxury watch brand Audemars Piguet, and private equity firm Carlyle.