2009 registration document and annual financial report - AMF

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PRESENTATION OF THE BNP PARIBAS GROUP
Presentation of business lines
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The property and casualty insurance business in France is conducted
via Natio Assurance, a company owned equally with AXA. The products
offered include comprehensive home insurance, car insurance,
educational insurance, travel insurance, and legal protection coverage.
A diversified business model
BNP Paribas Assurance’s partners comprise 35 of the world’s top
100 banks plus a large number of financial institutions, including
consumer finance companies, credit subsidiaries of car makers and
mass retail groups.
Three major distribution channels
BNP Paribas’ retail banking activities.
banks, financial institutions and mass retailers.
alternative channels: major brokers, networks of independent financial
advisers and the internet.
Strong culture of partnerships
BNP Paribas Assurance’s strength and distinguishing features are
predicated primarily on its ability to:
offer customised products to meet the needs of its various partners;
build a major profit centre for its partners;
satisfy its clients demand for high standards of service and transparency
via its Customer Centric Program.
A commitment to act as a good
and responsible corporate citizen
BNP Paribas Assurance has taken initiatives addressing various aspects
of its corporate social responsibility. It supports the economic and social
development of the countries in which it is active and aims to reduce its
greenhouse gas emissions by 10%. Likewise, it applies socially responsible
investment criteria to its investment decisions and has pledged to
promote diversity (award of certification as an equal opportunities
employer of men and women).
BNP Paribas Assurance ranks among the Top 15 insurers in Europe (1) and
is the world leader in creditor insurance (1) .
WEALTH MANAGEMENT
BNP Paribas Wealth Management encompasses BNP Paribas’ private
banking activities. As part of an integrated approach to client
relationships, Wealth Management offers its targeted client base security
through its affiliation with a robust, world-class banking group, as well
as its ability to innovate and deliver sophisticated products and services.
BNP Paribas Wealth Management provides a range of high value-added
products and services designed to meet the needs of a sophisticated
clientele. This range includes:
wealth management services: estate planning and advice on assets
structures;
financial services: asset allocation, investment products and securities,
notably discretionary portfolio management;
expert advice in specific areas, such as art, real estate and philanthropy.
Wealth Management (WM) is organised into two business lines, namely
Wealth Management Networks (WMN) and Wealth Management
International (WMI). Wealth Management Networks’ role is to support
the development of the wealth management business in countries where
the Bank has a retail client base. Wealth Management International aims
to pursue the development of the business in other markets in which
the Group boasts affluent clients and intends to strengthen its positions
through close cooperation with CIB, partnerships and acquisitions.
Wealth Management International and Wealth Management Networks
draw on the expertise of BNP Paribas Wealth Management’s support
teams in terms of financial and estate management offer. It sources
solutions from the Group’s other businesses (Investment Partners,
Securities Services, Insurance, Corporate Finance, Fixed Income, Equity
Derivatives, etc.), as well as from selected external product and service
providers.
In order to strengthen their ability to attract and advise the world’s largest
fortunes, Wealth Management International and Wealth Management
Networks are supported by a “Key clients” unit responsible for global
coverage of this segment.
BNP Paribas Wealth Management ranks as no. 6 worldwide and no. 4 in
western Europe (2) in private banking with almost EUR 163 billion in assets
under management at year-end 2009 and over 4,500 professionals in
more than 30 countries. In France, it ranks no. 1 (2) , with EUR 63 billion in
assets under management. Its extensive network comprises 224 wealth
management centres covering the whole of France and a dedicated
wealth management department for high net-worth clients with
EUR 5 million or more of assets (plan currently being implemented to
set up a wealth management department for high net-worth clients
in the regions).
The acquisition of Fortis Bank gives it an additional EUR 44 billion in client
assets under management (3) at year-end 2009, thereby strengthening
BNP Paribas Wealth Management’s leadership in the euro zone.
PERSONAL INVESTORS
BNP Paribas Personal Investors provides independent financial advice and
a wide range of investment services to individual clients. This business
line brings together three players:
Cortal Consors, Europe’s leading online savings and brokerage player
for individuals (4) , provides personalised investment advice and online
trading services in Germany, France and Spain. Cortal Consors offers
clients its investment advisory experience through several channels
– online, telephone and face to face. Its broad range of independent
products and services includes short-term investment solutions,
mutual funds and life insurance. The range is supported by leadingedge
online brokerage technology;
(1)
Source: internal survey based on information published by competitors.
(2)
Source: Euromoney 2010 rankings.
(3)
Excluding Fortis and BGL Personal Banking.
(4)
Source: in-house study based on information published by competitors.
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2009 Registration document and financial report - BNP PARIBAS