BNP Paribas has appointed a new Asia Pacific CEO.
Pierre Vrielinck has been appointed to the role and Mignonne Cheng, currently chairman and CEO, continues as chairman.
These appointments are effective today.
Cheng has been leading the wealth management business in Asia Pacific for over six years achieving robust business growth, more than doubling assets under management.
Over the course of her 26 year career at BNP Paribas, Cheng has held key leadership positions in corporate and institutional banking as well as wealth management.
Cheng’s tenure and depth of experience across Asia Pacific make her one of the industry’s most respected bankers.
Vrielinck has over twenty years' experience in banking with the last six years spent in wealth management, notably as CEO for BNP Paribas Wealth Management in Switzerland and emerging markets, where he has been instrumental in driving the transformation of the business in these markets.
Commenting on these appointments, Vincent Lecomte, co-CEO of BNP Paribas Wealth Management, stated: 'The Asia Pacific market is strategic for BNP Paribas Wealth Management. With our assets under management having doubled in the last six years, our aim now is to move from being one of the Top 10 players in the region to the Top 5.'
Eric Raynaud, CEO of Asia-Pacific for the BNP Paribas Group, said: 'As a foundation of our market-proven "One Bank" approach, wealth management is key in serving our high net worth clients across our businesses in the region, and Mignonne and Pierre together will continue to build on this successful approach.'
In 2016, the bank folded the legal entity BNP Paribas Wealth Management SA into the parent BNP Paribas SA to simplify its legal structure.