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BNP Paribas in Taipei focusing on managing wealth
By Joyce Huang
STAFF REPORTER
Wednesday, Mar 05, 2008, Page 12
BNP Paribas (法國巴黎銀行) Taipei branch yesterday vowed to boost year-on-year growth for its wealth management business by 15 percent after surpassing an annual 70 percent growth rate last year.
"Given this year's market turmoil, investors have turned conservative. But we will strive to meet that goal," said Eddie Chang (張國銘), head of the bank's wealth management division.
Chang a media briefing that the bank will focus on providing tailored services and products to high-income clients both in Taipei and Kaohsiung with a minimum of US$500,000 in assets.
The bank plans to branch into Taichung and Tainan once the government unfreezes its applications for licenses, he said.
The bank will also launch a new platform next month that will allow its clients to directly invest in Vietnam's stock markets, Chang said.
BNP Paribas said its investment plans include a preference for cash/stock returns over bond returns and US stocks over euro zone stocks.
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