BNP Paribas wealth management yesterday appointed Thierry Dana chief executive officer for Hong Kong and North Asia. Claude Haberer, who currently covers North Asia and Hong Kong, will become head of key clients for the wealth management business in Asia.
Dana is currently regional manager for Switzerland, Southern Europe and Latin America, and a member of the BNP Paribas wealth management executive committee. In his current role, Dana manages around 80 staff.
Dana's appointment is effective October 1. He will report to Serge Forti who is CEO of BNP Paribas wealth management for Asia-Pacific. Dana is charged with increasing the presence of BNP's private banking business in North Asia.
Dana has been with the BNP Paribas group for almost 20 years. During his tenure, he has held a number of client-facing positions in various markets.
In a written statement, Forti termed the North Asian region a key growth component for BNP's wealth management business.
Dana replaces Claude Haberer, who is currently BNP's point person for North Asia and Hong Kong. Haberer will continue to cover the Asia region, taking on the role of head of key clients for the wealth management business. Haberer will focus on new client acquisitions and on expanding the ultra high-net-worth segment in Asia. He will also report to Forti.
"These changes further reinforce BNP Paribas wealth management's commitment to continue serving some of the largest fortunes in Asia, a region that is forecasted to lead high-net-worth individual wealth growth for the next three years," said Forti.
BNP Paribas wealth management, which is the private banking arm of the French bank, employs more than 4,000 professionals across 30 countries, including the world's major private international wealth management centres. BNP Paribas set up a wealth management unit in Taiwan in 2005 and launched private banking in Shanghai one year later.
Private banks are building their Asia teams as they seek to win clients and assets in a region which has been less affected by the financial crisis than others. The wealth management division of Barclays recently hired Srinivas (Srini) Siripurapu from UBS to head Southeast Asia and South Asia for the UK-based bank. Siripurapu took with him a team of nine from UBS.