BNP Paribas Group has expanded its business in Germany by launching its wealth management services. It will be headed by Pascal Grundrich, who joined the group last year.
Reportedly, the new business line starts with offices in Frankfurt and Munich and will employ 15 people. This team offers personalised portfolio engineering and diversification advice, tailored to the specific needs of wealthy client, backed by a range of selected products and supported by dedicated team.
According to the group, the wealth management business is integrated to the existing German network of the group and uses in the background the IT-platform of the direct bank subsidiary Cortal Consors, specialized bank for savings and brokerage.
Mr. Grundrich said: “Germany is with more than 800.000 millionaires an interesting market. The past months have shown how important it is to handle assets risk sensitive. BNP Paribas as one of the most stable banks worldwide is capable to offer their clients safety and innovation.”
