BNP Paribas Taipei Gets Green Light for High-Net-Worth Wealth Management
Taiwan’s Financial Supervisory Commission (FSC) has given its approval for BNP Paribas’s Taipei branch to provide wealth management services for high-net-worth individuals.
The FSC stated that BNP Paribas Taiwan presented comprehensive strategies, including plans for talent development, product innovation, managing customer investment risks, and robust resource and information systems.
In Taiwan, a “high-asset customer” is generally defined as someone with NT$100 million or more in investable assets and insurance products. Alternatively, it can be a customer with at least NT$30 million in investable assets with securities firms, provided their total net assets and products also exceed NT$100 million.
The FSC believes this approval will bring international wealth management expertise to Taiwan, bolstering the local financial sector. BNP Paribas Taipei has also reportedly implemented a “Certified Private Banker Program” to further enhance its staff’s capabilities.
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