BNP Paribas USA Inc (BNP Paribas USA), a subsidiary of BNP Paribas, today announces that the Board of Governors of the Federal Reserve System did not object to BNP Paribas USA’s Capital Plan submitted as part of the 2018 Comprehensive Capital Analysis and Review (CCAR).

“BNP Paribas USA is well-capitalized and committed to strengthening its presence in the US market with the strong support of its parent company, BNP Paribas,” said Jean-Yves Fillion, Chief Executive Officer, BNP Paribas USA and Chairman of CIB Americas. “As these results show, our US platform is well-positioned to support the growth of our corporate, institutional and individual clients.”

BNP Paribas USA’s Capital Plan included projected financial results over a nine-quarter forecasting horizon, starting January 1, 2018. The stress test results show that BNP Paribas USA’s capital levels would remain above regulatory capital requirements. The BNP Paribas USA Capital Plan incorporates its bank subsidiaries Bank of the West and First Hawaiian Bank.

The results are available on BNP Paribas USA’s website at http://usa.bnpparibas/en/. The Federal Reserve provides additional information on its website at https://www.federalreserve.gov/.

PRESS CONTACTS

Guy Taylor
+1 917 767 1593
guild.taylor@us.bnpparibas.com

Mylene Benmoussa
+1 646 322 5221
mylene.benmoussa@us.bnpparibas.com

About BNP Paribas in the USA

BNP Paribas 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. Bank of the West and First Hawaiian Bank (together BancWest, part of Retail Banking & Services) serve nearly 2.5 million individuals and businesses through a network of more than 650 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management (part of Retail Banking & Services) as well as Real Estate and Fleet Services through partnerships. www.usa.bnpparibas.

About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including more than 149,000 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, corporate 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 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.

As BNP Paribas continues to evolve its platform in the region and build on the significant growth to date, as well as reinforce its commitment to clients, it is pleased to announce the appointments of several executive members:

Jean-Yves Fillion: CEO of BNP Paribas USA and CEO of CIB Americas becomes Chairman of CIB Americas and continues to serve as CEO of BNP Paribas USA, BNP Paribas’ intermediate holding company that oversees the bank’s wholesale and retail activities including Bank of the West and First Hawaiian. In these two roles, Mr. Fillion is responsible for the bank’s regional corporate strategy and will sponsor the bank’s relationships with the region’s most important clients and external stakeholders. Mr. Fillion has been with BNP Paribas for 33 years, 26 of which he has spent in the United States between Chicago, Los Angeles and New York.

Bob Hawley: Deputy CEO CIB Americas becomes CEO of CIB Americas. Reporting to Jean-Yves Fillion regionally and to Yann Gérardin, Head of Corporate and Institutional Banking, globally, Mr. Hawley will continue to serve as Head of the Institutional Platform Americas (which includes Global Markets, Securities Services and Financial Institutions Client Coverage) and Head of Global Markets Americas. Mr. Hawley will also be responsible for the Brazilian CIB platform. He has been with BNP Paribas since 1997 in increasing roles within CIB in Tokyo, Hong Kong, London and New York.

Pierre Veyres: is appointed Deputy Head of CIB Americas and Head of the Corporate Platform Americas, (which includes Corporate Coverage, Financing Solutions, Credit and Portfolio Management and Advisory). Reporting to Bob Hawley, Mr. Veyres will be responsible for leading the Group’s strategy to grow the corporate franchise and will be a member of the CIB Americas Executive Committee. He will oversee the CIB platforms in Hispanic LATAM and Canada. Mr. Veyres joins the Americas team from APAC, where he has served as the CEO of the BNP Paribas Singapore branch as well as the Head of Territory for Singapore and Head of CIB Southeast Asia since October 2013.

Philippe Ricard: appointed COO CIB Americas. Mr. Ricard, who’s been in the region since 2017, is replacing Bruno d’Illiers, who is moving to a new role with the Bank in Paris. In his capacity as COO CIB Americas, Mr. Ricard will report to Bob Hawley. Mr. Ricard will continue to serve as COO of BNP Paribas USA, for which he reports to Mr. Fillion. Since joining the Group in 1989, Mr. Ricard has held a wide range of leadership positions across BNP Paribas’ key regions and businesses, most recently as Global Head of Asset and Fund Services within BNP Paribas Securities Services.

Sonja Volpe: Country Head of Canada. Ms. Volpe brings over 17 years of experience covering Canadian financial institutions and public sector clients. She first joined BNP Paribas in 2015 as Head of Financial Institutions Coverage in Canada and has been instrumental in developing the bank’s institutional client franchise in the region. She will continue to drive the bank’s business growth as well as further develop Canada as an operational platform in the region. With over 800 employees in offices in Montreal and Toronto, Canada plays an important role in the Americas.

Thalès Gabay: appointed Head of ALM Treasury CIB Americas. Mr. Gabay is replacing Jonathan Light, who is retiring. Mr. Gabay most recently served as Head of ALMT for APAC, following a successful tenure as Head of ALMT for the Latin America region.

Amanda Rajkumar: appointed Head of Human Resources for BNP Paribas USA and CIB Americas. Ms. Rajkumar brings with her over 25 years’ experience in Human Resources within the investment banking arena. She joined BNP Paribas in May 2009 as Head of HR for BNP Paribas Securities Services in the UK, and most recently, she was responsible for Global Markets and Financial Institutions Coverage Human Resources in London and previous to that headed Global Fixed Income Human Resources for 5 years.

Emmanuelle Bury: appointed Chief Conduct and Control Officer (CCCO) for BNP Paribas USA and CIB Americas. Ms. Bury comes from BNP Paribas Paris, where she was the Global COO for the ALM Treasury Group. She will be joining the CIB Americas Executive Committee and will ensure that all Conduct & Control matters are well incorporated into the governance and working principles of all business lines.

All appointments are effective in June except: Sonja Volpe, effective July 1; Philippe Ricard, effective August 1; and Pierre Veyres, effective September 1.

Yann Gérardin, Head of Corporate and Institutional Banking, said: “BNP Paribas has experienced solid growth over the past few years, and now, backed by the Bank’s commitment to invest substantial capital and resources in our Americas platform, we are poised to elevate our business to the next level. A key factor in our success remains our continued focus on our clients: supporting their needs globally and providing them with strategic guidance. To support this mission we are investing in our leadership, which includes these appointments.“

Jean-Yves Fillion, CEO of BNP Paribas USA & Chairman of CIB Americas, said of the appointments: “BNP Paribas is at a pivotal moment for the Americas platform. As the competitive landscape evolves, our business is well-positioned to continue our strong progress toward becoming one of the top European banks in the region. We have a tremendous opportunity in front of us in both our wholesale and retail businesses as a unified region with a global offering that differentiates the bank in the marketplace. I am excited for what the bank will achieve in the years ahead.”

PRESS CONTACTS

Ilias Catsaros
+1 917 254 6365
ilias.catsaros@us.bnpparibas.com

Mylene Benmoussa
+1 646 322 5221
mylene.benmoussa@us.bnpparibas.com

About BNP Paribas in the USA

BNP Paribas 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. Bank of the West and First Hawaiian Bank (together BancWest, part of Retail Banking & Services) serve nearly 2.5 million individuals and businesses through a network of more than 650 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management (part of Retail Banking & Services) as well as Real Estate and Fleet Services through partnerships. www.usa.bnpparibas.

About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including more than 149,000 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, corporate 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 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.

Tuesday, June 12, 2018  

Montreal, Canada — BNP Paribas is pleased to announce that effective July 1, 2018, it has appointed Mrs. Sonja Volpe as its new President and Chief Executive Officer for Canada.

Mrs. Volpe will be responsible for overseeing the full breadth of the Canadian business while continuing to lead Financial Institutions Coverage in Canada.  She brings over 17 years of experience covering Canadian financial institutions and public sector clients. Mrs. Volpe first joined BNP Paribas in 2015 as Head of Financial Institutions Coverage in Canada and has been instrumental in managing global relationships and developing our client franchise in the region. Prior to joining the Bank, she was a Senior Banker at Citibank Canada.

Sonja Volpe is replacing Monique Vialatou, who becomes Chief Executive Officer of BNP Paribas Switzerland in July 2018.

About BNP Paribas Canada
For over 50 years, BNP Paribas in Canada has been helping Canadian businesses and institutions grow by offering them a full range of specialized financial services and investment products throughout its global network. With over 800 employees in offices in Montreal and Toronto, BNP Paribas in Canada combines a clear understanding of the Canadian landscape with global expertise.

About BNP Paribas Group
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 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. www.group.bnpparibas

Press Contacts

Guild Taylor, Head of Media Relations, BNP Paribas, New York
+1 212 471-6775

Mylene Benmoussa, Media Relations, BNP Paribas, New York
+1 212 841-2351

Follow us on Twitter: @BNPPamericas

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

This report was developed based on a proprietary cross-industry survey of 700 corporate treasurers and CFOs from organizations around the world with consolidated annual revenue of more than $500 million. The survey was conducted by Expand Research (a wholly owned subsidiary of The Boston Consulting Group) for BNP Paribas and The Boston Consulting Group. The study also included interviews with roughly 20 corporate treasurers and CFOs from multinational organizations. Building on the findings of prior studies (See Corporate Treasury Insights: It’s All About Security and Client Experience, BCG and BNP Paribas May 2016 and Corporate Treasury Insights: As the Dust Settles…, BCG and BNP Paribas, May 2015) we focused this edition on two important topics: trust and delivery excellence.

About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 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 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 Boston Consulting Group

The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 90 offices in 50 countries. For more information, please visit bcg.com.

Press contacts
BNP Paribas
Claire Helleputte
+33 (0)1 55 77 89 63
claire.helleputte@bnpparibas.com

The Boston Consulting Group
Laurent Acharian
+33 (0) 1 40 17 15 74
acharian.laurent@bcg.com

On Tuesday, May 8, 2018, First Hawaiian, Inc. (“FHI”) announced the pricing of a new secondary offering of shares of its common stock (the “Secondary Offering”).

The Secondary Offering comprises 15.3 million shares, or 10.96% of FHI’s common stock, to be sold by an affiliate of BNP Paribas representing an aggregate public offering price of approximately USD 422 million[1].

In addition to the Secondary Offering, FHI purchased approximately 3 million of its own shares (the “Share Buy Back”), from the same affiliate of BNP Paribas for a total amount of USD 81.8 million.

Following the Secondary Offering and the Share Buy Back, BNP Paribas will hold 49.9% of FHI’s common stock (or 48.8% if the underwriters exercise the option to purchase additional shares in full).

After the completion of the Secondary Offering, BNP Paribas will continue to fully consolidate FHI in its financial statements. It is expected that this transaction will have a positive impact of close to 5 basis points on the Group CET1 ratio in the second quarter.

A registration statement relating to FHI’s common stock has been filed with, and declared effective by, the Securities and Exchange Commission. The offering has been made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

[1] BNP Paribas has granted the underwriters a 30-day option to purchase up to an additional 1.53 million shares of FHI common stock. If the underwriters exercise this option in full, the total offering would comprise 16.83 million shares, or 12% of FHI’s common stock, to be sold by an affiliate of BNP Paribas.

About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 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 Contacts
Bertrand Cizeau  bertrand.cizeau@bnpparibas.com  +33 (0) 1 42 98 33 53
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
Valerie Sueur   valerie.sueur@bnpparibas.com  +33 (0) 1 42 98 67 65
Claire Helleputte  claire.helleputte@bnpparibas.com  +33 (0) 1 55 77 89 63

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).

About Bank of the West

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.

Connect with us

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. 

April 3, 2018

New York and Denver – BNP Paribas Securities Services, a leading global custodian with over $11.3 trillion in assets under custody, and Janus Henderson Investors (NYSE:JHG, ASX:JHG), today announced that Janus Henderson’s middle and back-office operations in the US have been transferred to BNP Paribas, marking a major expansion of the bank in the country. The transaction was announced on November 9, 2017.

This transaction is part of BNP Paribas’ 10-year strategic build-out of its Securities Services business in the US, and provides the bank with a proven US mutual fund administration and accounting platform.

More than 100 Janus Henderson employees, based in Denver, Colorado, have transitioned to BNP Paribas. The bank is committed to growing its presence in Denver, where its mutual fund administration hub will now be located. Other Securities Services operational hubs in the US include King of Prussia, Pennsylvania for hedge fund administration and Jersey City, New Jersey for custody and clearing.

As part of the transaction, BNP Paribas becomes the fund services provider for Janus Henderson’s US regulated mutual funds, representing $138 billion in assets.

Claudine Gallagher, Head of the Americas for BNP Paribas Securities Services, said:  “We have a long-standing relationship with Janus Henderson and are pleased to further this partnership.

“We are also delighted to welcome Janus Henderson’s staff of fund servicing professionals, whose combined expertise will enable us to deliver a seamless transition for Janus Henderson and its clients.  As we continue to build out our US business, we will be able to offer the market an integrated middle-to-back office platform, offering ’40 Act fund accounting, fund administration and custody.”

Dick Weil, Co-Chief Executive Officer at Janus Henderson Investors, said: “Having worked closely with the BNP Paribas team on this transaction over the course of the past few months, we have been impressed by their commitment to making this transition a success and feel confident that they will deliver superior service to our clients.  BNP Paribas has been an excellent partner. I look forward to extending this in the years ahead.”

With $2.8 trillion in assets under administration, and a global reach covering over 90 markets, BNP Paribas aims to support its clients in realizing their investment opportunities across the world and across all asset classes.

 

About BNP Paribas Securities Services

BNP Paribas Securities Services, a member of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, BNP Paribas Securities Services provides multi-asset post-trade and asset servicing solutions for buy- and sell-side market participants, corporates and issuers. With a presence in 36 countries and a global reach covering over 90 markets, its network is one of the most extensive in the industry, enabling clients to maximize their investment opportunities worldwide.

About Janus Henderson               

Janus Henderson is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, quantitative equities, fixed income, multi-asset and alternative asset class strategies.

As at 31 December 2017, Janus Henderson had approximately US$371 billion in assets under management, more than 2,000 employees and offices in 27 cities worldwide. Headquartered in London, the company is listed on the New York Stock Exchange (NYSE) and the Australian Securities Exchange (ASX). 

 

BNP Paribas Press Contacts  

North America
Jamie Somohano
+1 212 841 2406
jamie.somohano@us.bnpparibas.com

EMEA
Caroline Lumley
+44 (0) 20 7410 4650
caroline.lumley@uk.bnpparibas.com

Janus Henderson Investors Press Contacts                          

North America
Erin Passan, +1 303 394 7681
erin.passan@janushenderson.com

EMEA
Angela Warburton, +44 (0) 20 7818 3010
angela.warburton@janushenderson.com

Janus Henderson Investors Investor Enquiries

John Groneman, +44 (0) 20 7818 2106
john.groneman@janushenderson.com

BNP Paribas To Become The Longest-Running Title Sponsor In The History of The Tournament; Extends BNP Paribas’ Subsidiary Bank of the West’s Commitment To Tennis;
To Expand Scholarship Program In 2019

INDIAN WELLS, Calif., March 18, 2018 – BNP Paribas has extended its title sponsorship of the BNP Paribas Open from 2019 through 2023. BNP Paribas began its title sponsorship of the tournament in 2009, and over the course of this agreement, the bank will become the longest running title sponsor in the event’s history.

“The title sponsorship of the BNP Paribas Open has proved itself a success and continues to deliver a level of quality that aligns with BNP Paribas’ values,” said Jean-Yves Fillion, Chief Executive Officer, BNP Paribas USA. “The event has expanded immensely, and along with Bank of the West led by Nandita Bakhshi, we look forward to being part of its on-going growth. Our engagement with the event reflects our business commitment to California and throughout the US where we employ 16,000 people; and to the sport of tennis where we are recognized as one of the leading global sponsors. Together, we are proud to be a part of a world-class experience that is enjoyed by so many of our customers, team members, and fans.”

“We are delighted to extend our partnership with BNP Paribas as title sponsor of the tournament,” said Tournament Director Tommy Haas. “Our goal is to keep refining, improving and expanding this world-class event, and having a partner that embraces that vision is incredibly important. We look forward to continuing to work with BNP Paribas in the coming years to build upon the great foundation we have laid together over the past decade.”

BNP Paribas is also the official sponsor of Roland Garros (French Open); title sponsor of Davis Cup and Fed Cup by BNP Paribas; sponsor of three ATP Masters 1000 tournaments (BNP Paribas Open, Internazionali BNL d’Italia in Rome, and the Monte Carlo Rolex Masters) and the year-end BNP Paribas WTA Finals Singapore. In addition, BNP Paribas also sponsors numerous other ATP World Tour and WTA tournaments, exhibitions, amateur, wheelchair, and community and tennis initiatives.

BNP Paribas’ commitment to the sport of tennis – above its partnerships at all levels of the game – is reflected by a wide range of social, educational and charitable activities across the tennis world, including the annual BNP Paribas Open Scholarship – a $15,000 grant awarded each year at the BNP Paribas Open to two high school students in the Coachella Valley. In 2019 the initiative will be expanded and a third student will be given the same grant to celebrate the third term of partnership. BNP Paribas has also been engaged in major philanthropy initiatives for 30 years through its Foundation, focusing its activities on three main areas: the Arts, Social Inclusion, and the Environment – giving over 40 million Euros per year.

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Contacts:

Matt Van Tuinen: MVT PR, Media Relations, BNP Paribas Open

matt@mvtpr.com; phone: +1 773 860 5828

Mylene Benmoussa, Media Relations, BNP Paribas, New York

Mylene.benmoussa@us.bnpparibas.com; +1 212 841 2351

About the BNP Paribas Open

The BNP Paribas Open is the largest ATP World Tour and WTA combined two-week event in the world, and is held annually at the Indian Wells Tennis Garden. The tournament offers more than $14 million in prize money, and is the only event to provide the Hawkeye line challenge system on all match courts, including qualifying rounds. For more information, visit www.bnpparibasopen.com.

About BNP Paribas in the USA

BNP Paribas 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. Bank of the West and First Hawaiian Bank (together BancWest, part of Retail Banking & Services) serve nearly 2.5 million individuals and businesses through a network of more than 650 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management (part of Retail Banking & Services) as well as Real Estate and Fleet Services through partnerships. www.usa.bnpparibas

About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 75 countries, with more than 189,000 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, corporate 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.

BNP Paribas USA Inc. (BNP Paribas USA), a subsidiary of BNP Paribas, today announces a settlement agreement with the US Department of Justice (DoJ) relating to past misconduct in the Bank’s foreign exchange business.

The settlement includes an agreement to a guilty plea by BNP Paribas USA to a single violation of the Sherman Antitrust Act and a fine of USD 90 million, which will be covered by existing provisions. This follows an admission by a former BNP Paribas Securities Corp. (a subsidiary of BNP Paribas USA) employee to an antitrust conspiracy that covered his tenure with BNP Paribas Securities Corp. and other banks.

This settlement completes investigations into BNP Paribas’ foreign exchange business conducted by the DoJ, the New York State Department of Financial Services and the Board of Governors of the Federal Reserve System.

In reaching this settlement, the DoJ acknowledged BNP Paribas’ Group-wide remediation efforts and the full cooperation of BNP Paribas during the investigation.

The conduct which led to this settlement occurred during the period from 2011 to 2013. Since this time, BNP Paribas has proactively implemented extensive measures to strengthen its systems of control and compliance, 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 USA became an intermediate holding company in July 2016 as required by Federal Reserve Regulation and at such time and thereafter elected the current independent directors, who had no role at BNP Paribas USA before July 2016.

BNP Paribas USA deeply regrets the past misconduct that led to this settlement, which was a clear breach of the high standards on which it 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.

Press Contacts BNP Paribas USA
Ilias Catsaros + 1 212 841 2047  ilias.catsaros@us.bnpparibas.com
Mylene Benmoussa +1 212 841 2351  mylene.benmoussa@us.bnpparibas.com

About BNP Paribas USA, Inc.

BNP Paribas 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. Bank of the West and First Hawaiian Bank (together BancWest, part of Retail Banking & Services) serve around 2.5 million individuals, and businesses through a network of more than 650 branches and business centers. Large corporate and institutional clients are serviced by BNP Paribas’ Corporate & Institutional Banking franchise that has a presence in the main US cities, in addition to a global reach through a network of offices in EMEA and APAC. The bank also offers asset management services through BNP Paribas Asset Management (part of Retail Banking & Services) as well as Real Estate and Fleet Services through partnerships. www.usa.bnpparibas

  • 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