BNP Paribas on Wednesday appointed new co-CEOs in its Asia Pacific Wealth Management division, replacing Pierre Vrielinck.
Andy Chai, currently head of Wealth Management for Greater China, and Arnaud Tellier, head of Wealth Management Singapore and Southeast Asia, have been appointed as co-CEOs for Wealth Management in Asia Pacific, BNP Paribas said in a media statement on Wednesday. They will replace Pierre Vrielinck, who has held the position of CEO Asia Pacific previously.
Both will report hierarchically to co-CEO of BNP Paribas Wealth Management, Vincent Lecomte, and functionally to CEO Asia Pacific of BNP Paribas Group, Eric Raynaud.
«Our Wealth Management franchise is a cornerstone of our "One Bank” approach, enabling us to meet both the personal and professional financial needs of high net worth clients across Asia. With the rich experience of Andy and Arnaud, spanning both corporate and institutional banking as well as private banking, I look forward to the strong and sustainable growth of our Wealth Management platform for years to come,» said Raynaud.
Image: Arnaud Tellier
Separate Market Coverage
Chai and Tellier (pictured above) will assume joint responsibility for the strategic direction and operations of BNP Paribas’ Wealth Management business in the region, effective on Wednesday. Chai will have oversight of the Greater China markets including mainland China, Hong Kong SAR, and Taiwan and lead the strategic client segment across Asia.
Tellier will cover Southeast Asia, India, and International markets while investment services and key support functions will report to him. David Lim, a market head for Southeast Asia, is appointed Head of Wealth Management Singapore and Southeast Asia, reporting to Tellier.
CEO of APAC to Return to France
Pierre Vrielinck, who has held the position of CEO Asia Pacific since 2017 and has grown the franchise, will return in December to a senior leadership role within BNP Paribas Wealth Management in France. Meanwhile, veteran BNP Paribas banker Mignonne Cheng will retain her role as Asia chairman for Wealth Management and continue to bring her strategic vision and client knowledge to the franchise.
The French bank has been under pressure in Greater China recently due to a controversial post on Facebook by a previous staff in Hong Kong. The bank has since issued a statement of apology.
