The wealth management arm of French asset manager BNP Paribas has created an NRI Emea market covering non-resident Indian clients in Europe and the Middle East.
The firm has an existing NRI unit operating from Asia.
BNP Paribas Wealth Management said that the NRI diaspora residing in the GCC, Europe and UK “share common needs for international investments and a universal approach”.
Vijay Narain has been appointed market head to lead the commercial teams covering Emea NRI Market.
He joins BNPP WM from Indosuez Wealth Management, where he worked for 17 years. Before that he was with Standard Chartered Bank and Citi.
He brings a team of four with him.
Narain will report to Masroor Batin, chief executive of BNPP WM Middle East and Africa.
Key growth market
Batin commented: “BNP Paribas Wealth Management has a long-standing commitment towards supporting the global NRI diaspora. Closer in the region, we prioritise a market approach to serve the global community and better meet their expectations.
“We strongly believe that this new NRI Emea Market will offer enhanced client satisfaction and further accelerated growth.”
Hubert Musseau, chief executive of BNP Paribas Wealth Management Switzerland & emerging markets, added: “The Middle East is a key growth market for BNP Paribas Wealth Management.
“We are proud of our recent achievements in the region and we are confident that the creation of this new market will further support our clients and our regional ambitions.”