Paris, 4 June 2018
- The third edition of the survey reveals that corporate treasurers seek a trusted partner that can provide them with a strong and long-term client relationship, business protection and advisory on their strategic projects.
- In the context of growing regulation and the rise of digital players, trust is highlighted as the key element for securing clients.
- Winning trust from corporate treasurers goes through an invisible delivery experience, and a data enhanced organisation.
- Banks therefore need to overhaul their operating model by applying the best practices of technology firms and becoming more agile and data savvy.
The 2018 Corporate Treasury Insights report, released today by BNP Paribas and Boston Consulting Group reveals that acquiring and building a reliable relationship takes a combination of factors that include inherent trust, delivery excellence and a strong relationship model. According to the 700 corporate treasurers and multinational organisations CFOs surveyed, these factors are harder to track and master amid the growing polarisation in the treasurer’s role and their renewed expectations. Corporate treasurer’s expectations need to be addressed with the highest standards in an increasingly digitalised environment and require a subtle equation based on reliability acquired through digital services, multidisciplinary relationship models and data value.
The subtle trust equation: trust, relationship, delivery
The new data highlights that approximately 65% of the respondents confirm a high level of trust in their bank. In fact, most banks benefit from inherent trust due to their compliance with regulation, their scale and their long-term establishment. Yet the survey revealed that banks’ historical edge is eroding, as treasurers, especially in mature economy, no longer always see banks as the sole trusted advisor. Trust should therefore be further leveraged by banks as a major proof of quality, in particular as it varies with market maturity and across geographies.
To further distinguish themselves from digital players, banks must be able to answer treasurers’ evolving needs by balancing both technological advancement and personalised human interaction. Traditional players can gain differentiation through agility; flexible, responsive processes, enhanced advisory capabilities and high-end service 24/7. Digital and proactive service was echoed by many treasurers.
Although digitisation may be reshaping many aspects of the service delivery – with more than 60% of treasurers now saying they are interested in using digital channels compared to 50% in 2016 – the quality of human interactions continues to play an important role in transaction banking as treasurers have expressed the need for the right balance between an integrated client delivery team that can provide deep business expertise and client understanding backed by digitised, integrated and frictionless processes.
Jacques Levet, Head of Transaction Banking for Europe, EMEA at BNP Paribas, said: “As treasurers operate in an increasingly complex world, the complete trust they are able to place in their key partners becomes an ever-more critical success factor. If banks do not want to lose part of the inherent trust their clients have in them to new digital providers, they need to focus on improving their operating model both in terms of engagement and delivery. At BNP Paribas Transaction Banking, our objective is to remain at the forefront of innovation with a view to enhance our customers’ experience both in their day-to-day business and in more complex projects.
Reliability, helping treasurers navigate complexity
Treasurers are facing an increasingly uncertain and complex environment with a significant increase in regulatory pressure and a fragmented provider landscape with the rise of digital players. This framework is bringing about a number of risks that directly threaten the viability of treasurers’ business. These concerns have grown considerably since the last survey in 2016; from facing two or three critical risks to now managing five or six – including cybersecurity which has risen to the top 5 risks for treasurers. In those troubled waters, trust is a lighthouse that helps them navigate complexity.
Yann Sénant, Partner & Managing Director in Paris at BCG said: “The traditional Relationship Manager era is over. Treasurers’ expect less human interactions, but the key will be to combine technology with experience and knowledge of treasurers’ needs. The new paradigm is a data-enhanced Senior Banker, working along with an agile client team.”
Winning the trust battle will take three levers
To become a trust champion, the service model must meet the specific needs of all treasurers by:
Adopting a “zero-interaction model” that will appeal to treasurers who are looking for fast, stable and efficient processes to complete day-to-day business in a quick and automated way. Eliminating low-value intermediaries and process steps and focus instead on enabling treasurers looking for agile and business intelligence to receive rapid access to the most relevant service, insight and humans. Leveraging data generated across the client relationship to help them steer their everyday activities. Treasurers are unanimously willing to share additional data to providers if they can leverage it.
Methodology
Bank of the West, part of the BNP Paribas Group, opens Midtown Manhattan location to serve high-net-worth clients in New York City and the surrounding region, with an emphasis on expatriates
Bank of the West Wealth Management Group announced today the opening of their first office in New York, located at 787 7th Ave in the BNP Paribas USA building. The group’s team of professionals will offer cutting-edge wealth management products and services to business owners, high-net-worth individuals and families in New York City and the surrounding area.
“Our unified, global approach to wealth management, which is backed by the extensive capabilities of BNP Paribas, is ideal for expatriate clients,” said Pierre Ramadier, Head of Bank of the West Wealth Management Group. “We believe there is significant potential to grow our presence in New York, one of the largest wealth markets in the world.”
Bank of the West’s full-service, global investing capabilities will be available in the new Midtown space, and provide traditional wealth services such as portfolio management, philanthropic services, as well as financial and estate planning*, and brokerage and advisory services, which are offered through BancWest Investment Services, Bank of the West’s affiliated broker/dealer and Registered Investment Adviser. For more of Bank of the West’s wealth expertise, Voice of Wealth is available on all smartphones and tablets, which can be found on the Apple iTunes Store here and the Google Play store here.
“The opening of this first center in New York underscores our commitment to supporting entrepreneurship, innovation and international networking. We will be able to support our clients and their development both in Silicon Valley and in New York,” said Sofia Merlo, co-CEO of BNP Paribas Wealth Management. “The New York office will also facilitate access to our strong European home base and to our growing presence in Asia.”
About Bank of the West Wealth Management
Bank of the West Wealth Management provides wealth planning, investment management*, personal banking, philanthropy, and trust and fiduciary services. The group is part of BNP Paribas’ global wealth management business of more than 6,800 professionals present in three hubs in Europe, Asia and the U.S. with more than $13.08 billion** in assets under management in the United States and €364 billion ($414.7 billion) in assets under management globally as of December 31, 2017.
About BNP Paribas Wealth Management
BNP Paribas Wealth Management is a leading global private bank and #1 Private Bank in the Eurozone. Present in three hubs in Europe, Asia and the US, over 6,800 professionals provide a private investor clientele with solutions for optimizing and managing their assets. The bank has €364 billion worth of assets under management (as at 31 Dec. 2017).
Bank of the West is a financial services company headquartered in San Francisco with $89.8 billion in assets as of December 31, 2017. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 24 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, a leading bank in Europe, which has a presence in 74 countries with more than 192,000 employees. To learn more about Bank of the West, visit About Us via BankoftheWest.com.
Deposit and loan products offered by Bank of the West, Member FDIC and 
Equal Housing Lender. © 2018 Bank of the West. Doing business in South Dakota as Bank of the West California.
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Media Contact:
Laura Coletti
Bliss Integrated Communication
212-600-2579
botw@blissintegrated.com
Joe Rauch
Corporate Communications
415-432-3696
media.relations@bankofthewest.com
*Securities and variable annuities are offered through BancWest Investment Services, a registered broker/dealer, Member FINRA/SIPC, and SEC Registered Investment Adviser. Financial Advisors are Registered Representatives of BancWest Investment Services. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California, (License #0C52321) and through BancWest Investment Services, Inc. in all other states where it is licensed to do business. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors. BancWest Investment Services is a wholly owned subsidiary of Bank of the West. Bank of the West is a wholly owned subsidiary of BNP Paribas.
** Assets under management refers to assets under administration, management, advisement, and on deposit, including assets with our affiliate BancWest Investment Services as of December 31, 2017.
Bank of the West Wealth Management offers products and services through Bank of the West and its various affiliates and subsidiaries.
Sofia Merlo, co-CEO of BNP Paribas Wealth Management, and Pierre Ramadier, Head of Bank of the West Wealth Management, along with senior staff from Bank of the West, part of BNP Paribas Group, open its first Midtown Manhattan location at a ceremony on Tuesday, April 24.
- Solid economic growth, timid inflation, less monetary support and the growing influence of new societal issues underpin the investment themes selected for 2018 by BNP Paribas Wealth Management’s strategists in the United States, Europe and Asia.
- These themes aim to guide investors towards attractive opportunities.
- The year 2018 will see an improvement in the global economic environment which will allow investors to benefit from long-term trends.
LOOKING BACK AT 2017 AND LOOKING AHEAD TO 2018
In 2017, the global economy continued to improve. Central bank support became less necessary and financial markets pursued a bullish trend.
In the year ahead, BNP Paribas Wealth Management expects a sustained economic recovery with rising inflation. Investors can expect to see less support from central banks. The environment should remain favourable for risky assets.
“2017 was a fruitful year. Improving fundamentals around the world prevailed over geopolitical obstacles. Our ten investment themes for 2018, combined with our global strategy, should be an additional asset, indicating attractive investment solutions in this changing world,” says Florent Bronès, Head of Investment Strategy at BNP Paribas Wealth Management.
LATE-CYCLE THEMES
Theme 1 – Seeking alternatives to traditional fixed income strategies
Investment opportunities in the bond universe are increasingly rare. Risk premiums, already weak last year, are shrinking further due to cash injected by central banks. Investors have been forced to take on more risk to obtain decent yields. BNP Paribas Wealth Management explores several ways of finding value in the bond universe and alternative funds with similar volatility levels.
Theme 2 – The time is ripe for an acceleration in external growth (M&A and special situations)
External growth operations tend to multiply in the late stages of an economic cycle, replacing organic growth strategies with those that boost competitiveness. In the US, the implementation of new tax measures (tax cuts and tax breaks for repatriating overseas earnings) should bolster M&A activity and share buybacks. As Europe is lagging in the cycle, its potential for external growth and share buybacks is at least as good as in the US.
Theme 3 – The importance of finding flexible solutions
The bond universe offers very few opportunities. Indeed, interest rates and bond yields are set to rise moderately despite a small rise expected in the coming months. This suggests that returns on traditional bonds will be very low. Moreover, some equity markets are already fairly dear and some investors do not tolerate the level of underlying risk on these markets. Alternative strategies, unconstrained funds and certain structured products offer attractive solutions.
Theme 4 – Value investing should finally have its day in the sun
A window of opportunity for outperformance is opening up for value stocks (i.e. undervalued stocks). Value stocks will capitalize on synchronized global economic growth and mounting inflationary pressure. These pro-cyclical trends will drive up bond yields to which value stocks are positively correlated. The discount on value stocks should diminish over the next few quarters.
Theme 5 – Protecting against inflation risk via tangible assets
Inflation expectations are very low. And yet there is a real risk of surprise to the upside at this stage, especially in the US. A direct exposure to real assets helps to stabilize long-term returns and increase the portfolio’s protection against inflation. Real assets include precious metals (e.g. gold), direct real estate, farms, vineyards and forests.
MEGATRENDS THEMES
Theme 6 – Millennials: adapting to the largest generation so far
“Millennials” or “Generation Y” are the cohort of people born between 1980 and 2000, who are constantly connected via all kinds of numerous and varied devices. These young consumers, with new habits and needs, are revolutionizing the way goods and services are consumed. They are forcing companies to innovate and are thus creating winners and losers in various sectors. We see opportunities in sectors such as Virtual Reality and Augmented Reality Database Management, including Cloud Computing, Big Data, and industries linked to new modes of consumption.
Theme 7 – (R)evolution in mobility: the impact of electricity
In a bid to curb global warming, fight pollution and solve transport problems in congested cities, political authorities in the West and in China are taking measures which will accelerate the growth of electric vehicles. This (r)evolution is opening up opportunities at every level of the value chain: materials (metals, chemical products used in batteries), electricity producers, electric vehicle makers, and carpooling services, etc.
Theme 8 – Infrastructure and urbanization, a global trend
Infrastructure is the backbone of the economy. It comprises the basic framework, facilities, networks (transport, power, communications) and buildings which a country, organization or community needs to function competitively and to improve the standard of living of its people. There are enormous renovation needs in developed countries. However, in emerging markets, infrastructure and urbanization are essential for reaching the next stage in their expansion.
Theme 9 – Sustainable production methods and healthy consumption habits increase their appeal
Enjoying a healthier lifestyle in a cleaner environment is becoming an important goal for an increasing number of people. Logically, consumer habits are changing too. We take more care of our health and our attitude towards the planet is also evolving. Fixing sustainable targets has become a top priority. This theme seeks to capture these trends, and fits perfectly with responsible investments.
Theme 10 – Business investment on the rise: cyclical and secular drivers
Companies will continue to invest in 2018, thanks to the buoyant economic cycle but also because of the necessity to invest in innovative technologies to ensure their long-term productivity. This theme identifies stocks which will benefit from this trend.
You can also watch a video in which Florent Bronès presents the 10 Wealth Management investment themes for 2018 by clicking here and read the full report by clicking here.
About BNP Paribas Wealth Management
BNP Paribas Wealth Management is a leading global private bank and #1 Private Bank in the Eurozone. Present in three hubs in Europe, Asia and the US, over 6,600 professionals provide a private investor clientele with solutions for optimising and managing their assets. The bank has €358 billion worth of assets under management (as at 30 September 2017).
Press Contact
Claire Helleputte claire.helleputte@bnpparibas.com +33 (0)1 55 77 89 63
- UN Environment and BNP Paribas have today signed a milestone agreement at the One Planet Summit to establish Sustainable Finance Facilities, collaborative partnerships aimed at raising development capital to drive sustainable economic growth in emerging countries.
- UN Environment and BNP Paribas will collaborate to identify suitable commercial projects with measurable environmental and social impact, with a target of capital funding amounting to USD 10 billion by 2025 in developing countries.
- The aim is to support smallholder projects related to renewable energy access, agroforestry, water access and responsible agriculture among other sustainable activities.
- The Sustainable Finance Facilities programme is the first of its kind in terms of collaboration between companies, investors, development sector partners and civil society organisations, with the support of national governments.
The Memorandum of Understanding was signed today between Erik Solheim, Executive Director of the United Nations Environment Programme and Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas at the One Planet Summit under the patronage of the President of the French Republic, Emmanuel Macron. This landmark agreement is fully in line with both UN Environment’s and BNP Paribas’ commitments to developing meaningful and sustainable projects addressing environmental and social challenges in emerging countries.
This agreement builds on the Tropical Landscapes Financing Facility, a partnership between UN Environment, BNP Paribas, World Agroforestry Centre and ADM Capital in Indonesia.
UN Environment and BNP Paribas will scale the collaborative effort by establishing Sustainable Finance Facilities in many more developing countries, with a target capital funding amount of US$10 billion by 2025.
Through sourcing funding from third-party global investors, and arranging and issuing green loans, Sustainable Finance Facilities will help channel finance from the private sector to fund sustainable economic development in emerging countries.
Projects focused on rural smallholder productivity enhancement, rural renewable electrification and forest landscape restoration and protection will support national climate and sustainable development commitments, build climate resilience and help countries and communities achieve targets for food, water and energy security. Projects will recognise the vital role of relevant stakeholders, in particular women, indigenous peoples and local communities in all areas of sustainable growth and the need for their full and effective participation.
The projects could include the restoration of degraded agriculture landscapes through agro-forestry, the improvement of small-holder agriculture or renewable energy investments in rural areas, in particular to replace charcoal. Climate-smart agriculture, stopping deforestation and restoring forests and landscapes at significant scale could together contribute over 30 per cent to the achievement of the Paris Agreement.
BNP Paribas will continue to act as the capital markets adviser and structuring adviser to Sustainable Finance Facilities as they are established, and will bring institutional investor capital to participate in the programme.
UN Environment will ensure that environmental and social impacts of projects are positive and significant, and are at the heart of the work of the Sustainable Finance Facilities.
With this agreement, signed at the One Planet Summit, BNP Paribas reinforces its commitment to bringing pioneering financial solutions at scale and helping the UN achieve the 17 Sustainable Development Goals and advance the 2030 Agenda for Sustainable Development.
Jean-Laurent Bonnafé, Chief Executive Officer of BNP Paribas, said: “As an international bank, we consider it our duty to contribute to a better future. We have a role to play in leveraging our place at the centre of the economy, where we not only take action ourselves, but also bring diverse players to direct financial capital to projects that address the issue of climate change and more broadly, sustainable economic development. We have a particular responsibility to direct this financing to developing countries and vulnerable populations. While some projects may seem to be on a small scale, we must not forget that collectively, these initiatives can make a considerable difference to improving the environment, biodiversity or social development. This agreement marks a new way for governments, businesses and institutions to work together to co-develop solutions.”
Erik Solheim, Executive Director of the United Nations Environment Programme, said: ““The largest untapped potential for climate action is in how we manage our land and soils. The partnership with BNP Paribas sets a signal to the finance industry that ‘business as usual’ is not an option anymore. We need to design sustainable agriculture and forestry in a way that solves the climate crisis, rather than contributes to it. Right now, less than 3 percent of climate finance, public or private, goes to sustainable land-use – and yet it can be more than 30 percent of the solution. We need a tenfold increase in climate finance that goes to sustainable land-use.”
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.
BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
UN Environment is the leading global voice on the environment. It provides leadership and encourages partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations. UN Environment works with governments, the private sector, the civil society and with other UN entities and international organizations across the world.
The Tropical Landscapes Finance Facility (TLFF) aims to ‘leverage private finance for public good’ by scaling up investment in landscapes resulting in enhancing the ‘GDP of the Poor’ achieved through sustainable production of agricultural commodities, and improved smallholder productivity with reduced deforestation in Indonesia.
The TLFF was launched by the Coordinating Minister of Economic Affairs of the Republic of Indonesia on 26 October 2016, based on a partnership between UN Environment, BNP Paribas, ADM Capital and The World Agroforestry Centre, receiving strong support from the Indonesian government to create a mechanism to access and deliver private sector capital enabling the country to meet its significant development and climate targets. The objective is to support closing the USD 20bn funding gap in Indonesia for projects with significant environmental and social impact which are critical to securing long-term economic prosperity.
Press Contacts
UN Environment
Florian Eisele – Florian.Eisele@unep.org +352. 691 588 863
BNP Paribas
Julia Boyce – julia.boyce@bnpparibas.com +33 (0)1 43 16 82 04
Coralie France-Savin – coralie.francesavin@bnpparibas.com +33 (0)1 40 14 94 89
Renato Martinelli – renato.martinelli@bnpparibas.com +33 (0)1 58 16 84 99
Claire Helleputte – claire.helleputte@bnpparibas.com +33 (0)1 55 77 89 63
The BNP Paribas Foundation and the Bill & Melinda Gates Foundation, under the patronage of the President of the French Republic launch One Planet Fellowship, a programme leveraging French, African and European expertise to support research on climate adaptation in Africa
- The BNP Paribas Foundation and the Bill & Melinda Gates Foundation, in partnership with the Agropolis Foundation, and under the auspices of the French ministry of Higher education, Research and Innovation, today announced the creation of One Planet Fellowship, a $15 million, 5-year programme.
- Funded on an equal basis by the Bill & Melinda Gates Foundation and the BNP Paribas Foundation, this philanthropic programme’s objective is to support 600 African and European researchers working to help Africa adapt to climate change. It also aims to bolster the African and European scientific community working in this field.
- The agreement was announced during the One Planet Summit in Paris on 12 December 2017, by Bill Gates, Bill & Melinda Gates Foundation Co-chair and Trustee and BNP Paribas CEO Jean-Laurent Bonnafé, in the presence of the President of the French Republic, Emmanuel Macron, and African Women in Agricultural Research and Development (AWARD) Director, Dr Wanjiru Kamau-Rutenberg in attendance.
- One Planet Fellows will collaborate in research and higher education projects that aim to advance agriculture and climate change issues, funded by the Agropolis Foundation over a five-year period with a budget of €5M.
Africa is particularly vulnerable to climate change. The continent is likely to suffer serious consequences, such as prolonged periods of drought and lower crop yields. Given the urgency of the situation and the anticipated long-term impacts on the environment, it is vital to promote the development of relevant policies at the local level today. Such policies can only be drawn up on the basis of solid scientific knowledge.
The BNP Paribas Foundation and the Bill & Melinda Gates Foundation, respectively committed to the fight against climate change and eradicating extreme poverty, are therefore launching today the One Planet Fellowship. The purpose of this philanthropic effort, which will be run by African Women in Agricultural Research and Development (AWARD), is to provide additional resources to African research and support the work of the next generation of scientists who will have to deal with a new set of challenges.
One Planet Fellowship will on the one hand help to finance the research carried out by African scientists into climate change adaptation, focusing particularly on issues that small farmers will have to cope with, and on the other hand help to strengthen the capabilities of the African and European science communities through training programmes combining mentoring, study trips and networking opportunities for young researchers.
The One Planet Fellowship, which enjoys the official patronage of the President of France, has a total budget of $15 million, funded on an equal basis by the Bill & Melinda Gates Foundation and the BNP Paribas Foundation.
“Undertaking research into climate change adaptation enables us to gain a better understanding of the current and future risks and identify the best solutions to address them. I firmly believe that in the research field, sharing knowledge and working together are key to finding more effective solutions to climate change issues,” explained BNP Paribas CEO Jean-Laurent Bonnafé.
“The foundation is delighted to support the creation of the One Planet Fellowship program,” said Nick Austin, Ph.D., director of Agricultural Development at the Bill & Melinda Gates Foundation. “We believe it’s critical to nurture a new generation of climate scientists, particularly African scientists, who can build on existing agricultural research and innovations to deliver new climate adaptation solutions to help smallholder farmers and their families in the decades to come.”
“Building an African and European scientific community that stands together with rigour and commitment to fight against climate change and adapt agriculture is both a human and a scientific challenge. It calls for all people of good will to join and prepare our common future,” explained Pascal Kosuth, Director of the Agropolis Foundation.
Mobilizing 600 African and European scientists to work on Africa’s adaptation to climate change
120 African researchers will be selected on the basis of their climate change adaptation research projects. Each of them will receive a joint mentoring – from a scientist in Africa and in Europe – which will involve a period of several months working in a laboratory in Europe. In turn, they will then mentor two young researchers, one from an African institution and one from Europe. The programme will involve a total of 600 scientists over a period of five years.
In addition, these researchers will interact with projects, funded by the Agropolis Foundation, addressing climate change-related problems faced by agriculture.
In France, the researchers will be hosted in Montpellier by the Agropolis Foundation, which, together with its partners, constitutes a world-class scientific community of 2,700 researchers and teachers specialising in the fields of agriculture, food science, biodiversity and the environment. Funding members and partners include the French Agricultural Research Centre for International Development (CIRAD), the French National Institute of Agricultural Research (INRA), the French Research Institute for Development (IRD), Montpellier SupAgro (French National Institute of Higher Education in Agricultural Sciences), the University of Montpellier and the French National Centre for Scientific Research (CNRS), all engaged in Montpellier University of Excellence (MUSE).
This new programme represents an additional step in the ongoing efforts made by the BNP Paribas Foundation to support research into ways and means of combating climate change. These targeted efforts started with the creation in 2010 of the Climate Initiative, a philanthropy programme with a budget of €6 million over three years (2017, 2018, 2019), and which provides backing to climate research projects following a careful process of selection by scientists reputed in their fields of research. Today the Climate Initiative is providing financial support to eight projects involving 178 researchers, engineers and academics from 73 universities and research institutes working on issues ranging from the study of past climates to the current impact of climate change on coral reefs.
One Planet Fellows will collaborate in research and higher education projects that aim to advance agriculture and climate change issues, funded by Agropolis Fondation over a five-year period with a budget of €5M.
About the Bill & Melinda Gates Foundation:
Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Dr. Susan Desmond-Hellmann and Co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett.
About the Agropolis Foundation
The Agropolis Foundation promotes and supports high-level research and higher education in agricultural sciences and sustainable development. Emanation of the world-class Montpellier scientific community it connects it with an international network of over 400 foreign partner institutions, including the AWARD program presented above. In the past 10 years the Agropolis Foundation has granted €40 million to scientific projects on cultivated plant diversity, biology and breeding, crop protection, sustainable agriculture and food systems, agro-ecological transition, adaptation to climate change, food processing and quality, socio-economics and public policies.
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
About the BNP Paribas Foundation
Under the oversight of the Foundation of France, the BNP Paribas Foundation has been a major player in corporate philanthropy for 30 years. It is also encouraging and contributing to the BNP Paribas’ philanthropic policy growth in all parts of the world wherever the Bank operates. The BNP Paribas Foundation’s activities are aimed at multidisciplinary philanthropy, supporting innovative projects dedicated to culture, social inclusion and the environment. It pays close attention to the quality of its commitment to its partners through a long-term commitment. Since 1984, over 300 cultural projects, 40 research programs and a thousand social and educational initiatives have earned its support in France and around the world.
Press Contacts
Bill & Melinda Gates Foundation
Gates Media – media@gatesfoundation.org
BNP Paribas
Julia Boyce – julia.boyce@bnpparibas.com +33 (0)1 43 16 82 04
Coralie France-Savin – coralie.francesavin@bnpparibas.com +33 (0)1 40 14 94 89
Renato Martinelli – renato.martinelli@bnpparibas.com +33 (0)1 58 16 84 99
Claire Helleputte – claire.helleputte@bnpparibas.com +33 (0)1 55 77 89 63
Agropolis Foundation
Oliver Oliveros – oliveros@agropolis.fr +33 (0)6 70 39 18 39
BNP Paribas to Leverage GTS’ Trading Technology to further improve pricing to clients in the secondary market for U.S. Treasuries
This Strategic Collaboration Marks a New Era for Banks and Electronic Market Makers
NEW YORK, NY, November 16, 2017—BNP Paribas, a leading European provider of banking and financial services, and GTS, a New York-based global electronic market maker, today announced a strategic collaboration marking a new era for banks and electronic market makers. This collaboration will enable BNP Paribas to leverage GTS’ trading and technology capabilities with the goal of providing BNP Paribas’s clients with deeper liquidity, tighter spreads and further improved pricing in the US Treasuries secondary market.
BNP Paribas, with its strong presence in corporate and institutional banking and its top-ranked position in a number of fixed income and equity markets, and GTS, with its technology and electronic market making capabilities, will leverage their respective strengths to continue to develop the collaboration.
Under terms of the strategic collaboration, BNP Paribas will seek to improve the client experience by providing improved pricing in the secondary market for US Treasuries by the addition of GTS liquidity into its pricing framework. A dedicated team from both firms will leverage a mutually developed technology platform that seeks to provide BNP Paribas with access to greater liquidity, thereby enabling the bank to offer improved execution quality for clients as they trade directly with BNP Paribas.
Olivier Osty, Executive Head of Global Markets at BNP Paribas, said:
“The US is an important market for BNP Paribas, and we are fully committed to expanding our capital markets franchise by focusing on our clients and their demand for improved liquidity and better transparency. This innovative collaboration with GTS illustrates how we work with firms that are experts in financial technology to enhance our client offering across the Bank’s value chain. It is an important step in our ambition to become a leading digital capital markets house in the financial services industry.”
Ari Rubenstein, Co-Founder and Chief Executive Officer of GTS, said:
“This collaboration is a transformative moment for capital markets and reflects the next phase in the evolution of relationships between banks and electronic market makers, which provide investors with a low cost and more efficient trading experience. GTS continues to focus on innovative methods of providing more liquidity in more places by broadening access to our trading technology and building platforms for the future.”
About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 190,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. In the United States, BNP Paribas conducts securities business, including in US Treasuries, through its affiliate, BNP Paribas Securities Corp., a FINRA member that is registered with the US Securities and Exchange Commission as a broker-dealer.
About GTS
GTS is a global electronic market maker, powered by combining market expertise with innovative, proprietary technology. As a quantitative trading firm continually building for the future, GTS leverages the latest in artificial intelligence systems and sophisticated pricing models to bring consistency, efficiency, and transparency to today’s financial markets. GTS accounts for over 3-5% of daily cash equities volume in the U.S. and trades over 10,000 different instruments globally. GTS is the largest Designated Market Maker(DMM) on the floor of the New York Stock Exchange, responsible for more than $12 trillion of market capitalization. For more information, please visit: GTSX.com.
Media Contacts:
Mylene Benmoussa, BNP Paribas, NY
212 841 2351
mylene.benmoussa@us.bnpparibas.com
Sarah Worsley, BNP Paribas, Paris
+33 (0)6 64 36 74 35
Sarah.worsley@bnpparibas.com
Brett Philbin, Edelman
212-704-8263
brett.philbin@edelman.com
BNP Paribas has appointed Alessandro Promutico as Chief Executive Officer of L’Atelier BNP Paribas in San Francisco, effective 1st September. He succeeds Nathalie Doré, who, having driven the development of L’Atelier BNP Paribas in San Francisco over the past three years, has now taken up the post of Chief Digital & Acceleration Officer at the Group’s insurance subsidiary, BNP Paribas Cardif. Alessandro Promutico will report to Louis Treussard, CEO of L’Atelier BNP Paribas. He will be supported in his role by Matthieu Soulé, Head of Consulting at L’Atelier BNP Paribas in San Francisco, who is appointed Deputy CEO, while also remaining in charge of the consulting activities for North America.
As CEO, Alessandro Promutico’s mission will be to ensure the continued growth of L’Atelier BNP Paribas in North America. L’Atelier BNP Paribas, which recently celebrated in San Francisco its 10th anniversary as a strategic observatory of new trends in Silicon Valley, advises and supports BNP Paribas and its clients in their digital transformation. L’Atelier BNP Paribas in San Francisco has also set up, in partnership with BNP Paribas US subsidiary Bank of the West, the Finlab, an innovation acceleration initiative designed to identify and apply the best innovations in key areas such as cash management and payment solutions.
An Italian citizen, Alessandro Pomutico has some 15 years’ experience in the banking and financial sector. In his early career, he worked as an analyst at several major financial sector and consultancy firms, including PwC, J.P. Morgan and Roland Berger. In 2008, he joined BNP Paribas as Marketing Manager of IFS for BNL, the Group’s Italian subsidiary, before being appointed in 2010 Head of Marketing within the Global Marketing Department of the Group’s insurance subsidiary BNP Paribas Cardif. A tech – notably Fintech – expert, Alessandro Promutico has served since 2015 as Senior Strategy Analyst at L’Atelier BNP Paribas in Paris. He graduated in Business & Economics from both the University of Rome and Liverpool John Moores University, and holds an MBA from the IE/Wharton Business School. He also graduated in Experience Design from the Hyper Island school.
Based in Paris, San Francisco and Shanghai, L’Atelier BNP Paribas is an innovation prospection company that advises and supports the Group and its clients in their digital transformation. With a base in three major geographical areas for innovation – Europe, North America and Asia – L’Atelier BNP Paribas carries out forward-looking analysis and assists the BNP Paribas Group and its clients in their digital and innovation strategy. As part of its open innovation approach, L’Atelier BNP Paribas has created an Acceleration hub, which brings together innovative entrepreneurs and large companies to accelerate the development of their common projects.
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Press contact:
Renato Martinelli – renato.martinelli@bnpparibas.com / +33 (0)1 58 16 84 99
BNP Paribas to be presenting sponsor of WTEF’s Congressional Charity Tennis Tournament.
A longtime partner to tennis worldwide, BNP Paribas today announced a new partnership with the Washington Tennis & Education Foundation (WTEF). For the first time, BNP Paribas will sponsor the WTEF’s Congressional Charity Tennis Tournament. The event takes place on Monday, September 25, 2017 at WTEF’s East Capitol Tennis Center.
The annual tournament raises funds to benefit education for low income youth, on and off the court. Members of Congress and former professional tennis players will play alongside corporate sponsors and WTEF members. This year’s event will feature tennis legends Kathy Rinaldi, Dan Waldman, and Richey Reneberg, and Congress members including Senator Shelley Moore Capito, Representative Joyce Beatty and Representative Charlie Dent; all of which are repeat CCTT participants.
Ilias Catsaros, BNP Paribas’ Head of Brand and Communications, Americas, said, “As well as sponsoring major professional tournaments, BNP Paribas has been a longtime supporter of youth tennis programs as a key component of our community outreach efforts. We are delighted to partner with WTEF to continue making investments in helping children in the Washington, D.C. area succeed.”
“We are thrilled to be partnering with BNP Paribas, which has an incredible history of supporting tennis and giving back to the community,” said WTEF’s President, Eleni Rossides.
About BNP Paribas
BNP Paribas, a global bank, has built a strong and diversified presence in the United States to support its client base. The bank employs over 16,000 people and has had a presence in the USA since the late 1800s. Just as the bank serves clients across the world, the bank has been able to bring tennis to fans globally. BNP Paribas is the leading partner of tennis worldwide, sponsoring the sport in all forms—professional, amateur, junior, community and wheelchair tennis. The bank sponsors dozens of professional tournaments including the French Open, the Davis Cup, the Fed Cup and the BNP Paribas Open. In 2011, BNP Paribas launched wearetennis.com to provide a platform with global tennis news for all fans. Group.bnpparibas
About WTEF
The Washington Tennis & Education Foundation (WTEF) is a premier educational and tennis organization
for low income, underserved children in Washington, DC. WTEF’s mission is to improve the life prospects of the District of Columbia’s neediest children and youth through athletic and academic enrichment. We seek to keep children off city streets during out-of-school time, in a safe environment they can trust, by engaging them in productive activities that teach discipline, build confidence, improve school performance, and encourage a healthy lifestyle. We empower our students to achieve their highest potential by helping them develop meaningful values and the critical life skills that will lead them to make constructive life choices. Working together with the community, WTEF builds life champions. For more information about our services, please visit www.wtef.org
Press contacts:
BNP Paribas
Jamie Somohano – 212 841 2406 – jamie.somohano@us.bnpparibas.com
Ast Shango – 212 471 6419 – ast.shango@consultant.bnpparibas.com
WTEF
Jessica Baggetta – 202 660 0125 – jbaggetta@wtef.org
BNP Paribas today announced a settlement with the Board of Governors of the Federal Reserve System (“FRB”) relating to past misconduct in its foreign exchange business.
Under this settlement with the FRB, BNP Paribas will pay a fine of USD 246 million (approximately 215 million euros) which will be covered by existing provisions. This follows the announcement by BNP Paribas of a settlement with the New York State Department of Financial Services on the 24th May relating to the same issue.
In reaching this settlement, the FRB acknowledged the Group wide remediation initiatives and the full cooperation of BNP Paribas in the investigation.
The conduct which led to this settlement occurred during the period from 2007 to 2013. Since this time, BNP Paribas has proactively implemented extensive measures to strengthen its systems of control and compliance. The Group has increased resources and staff dedicated to these functions, conducted extensive staff training and launched a new Code of Conduct which applies to all staff.
BNP Paribas deeply regrets the past misconduct which was a clear breach of the high standards on which the Group operates.
Conducting its business in a responsible and ethical manner is a cornerstone of BNP Paribas’ values and the Group will continue to make improvements to ensure that it delivers on its responsibilities to all its stakeholders.
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Press Contacts
Julia Boyce julia.boyce@bnpparibas.com +33 1 43 16 82 04
Coralie France-Savin coralie.francesavin@bnpparibas.com + 33 1 40 14 94 89
Sarah Worsley sarah.worsley@bnpparibas.com +33 1 40 14 65 14
Alexandra Umpleby alexandra.umpleby@uk.bnpparibas.com+44 20 75 95 2436
Mylene Benmoussa mylene.benmoussa@us.bnpparibas.com +1 212 841 2351
