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Clients need expert support when they buy such items. The billionaire owners on average use their yachts one month a year.

«They know full well that they are spending a lot of money – some would even go as far as saying that they are wasting money,» Blanchet said. «But they want to make sure that they are doing it right.»

Scarce Mooring in Italy and France

The relative inexperience in managing big boats sometimes makes new owners overlook elementary aspects, such as mooring in Northern Italy or Southern France. Such slots are in scarce supply and need to be organized far in advance. Failing to do so may end up in having to anchor far out at sea or divert to Barcelona or North Africa – not so attractive if you want to show off your new boat.

Jet owners face the same problem of course – in Hong Kong for instance there’s hardly a parking slot to be found. The convenience factors trends to zero if you have to fly in your jet whenever you want to use it.

Optimizing the Value

The maritime banker remains an important point person after the purchase of the boat. As the representative of many superyacht owners, the bank can get better deals from shipyards, with crews and for maintenance purposes.

«We are helping our clients enjoy their boat and charge them a fee for our services,» said Blanchet, who previously organized the financing of new boats for shipping companies. The interests of bank and owners are the same: optimizing and maintaining the value of the yacht or jet.

EBACE

Switzerland wasn’t an accidental choice as home for Blanchet’s team. Apart from being the home of countless rich, Switzerland also has vital expertise in the jet and yachting business.

Geneva for instance hosts the annual jet fair Ebace (pictured above). And Société Nautique de Genève maintains close ties with Monaco, the capital of superyachts.

A Safe Bet

The business of financing jet and yachts is full of prestige, but also a safe bet. There are hardly any defaults on such loans. The BNP team focuses on yachts of 40 meters plus – of which there are only 5,400 worldwide – and intercontinental jets.

These assets are important for reputational purposes and if an owners ever had an issue with liquidity implications, they would tend to solve them through their companies, Blanchet explained. After all, if ever a yacht or jet is being seized by authorities, everybody within the community will know about it within hours.