Enterprising individuals, innovative families: where they fit in

A chat with Pierre Ramadier, Global Head of Entrepreneurs & Families, at BNP Paribas Wealth Management.

Q: Pierre, back in Paris after five years as Head of Wealth Management at Bank of the West in the United States, jumping on a new challenge: accompanying very demanding entrepreneurs & leading families. What’s your take?

Pierre Ramadier:  I don’t know if I would call it a new challenge; a better way to describe my role might be to say an expanded challenge, and a big one at that. I’m not underestimating it.

In most everyone’s imagination, California, San Francisco, Silicon Valley, that’s where some of the world’s best known entrepreneurs, especially in tech, are reinventing the world. And Bank of the West has been at the very heart of this incredibly dynamic entrepreneurial ecosystem for years. Serving not just these entrepreneurs but also their families, sometimes first, second or even third & fourth generations, is part of our DNA at Bank of the West.

But not just at Bank of the West. I’d say that BNP Paribas is THE bank for entrepreneurs and families, wherever they need a full-fledged financial service provider. We are in a unique position to serve our clients from the US West or East Coast, Europe, Middle East and Asia. Thanks to this global reach, we can connect clients who move to new countries, want to expand their business in new markets or simply look for relocating to their home country due to this Covid backdrop. 

Serving entrepreneurs and families across the board is embedded in our culture. So that’s why I said it’s not a new challenge for us.

Q: Pierre, why entrepreneurs and families together?

PR: It makes perfect sense for us. So let me tell you how we see the two are connected.

Entrepreneurs are incredibly visionary. Their ideas, their vision, their passion propel so much of our economic growth, they change our world; they push it forward. And studies have shown that entrepreneurship, innovation and economic growth are intimately linked.

But entrepreneurs aren’t out there doing it alone. They aren’t lone wolves. Investors back them up, put their faith in them, trust their ideas, take risks. And these investors are often leading families who have built their own fortunes thanks to their very own powerful entrepreneurial spirit. These very same families have built a very strong entrepreneurial legacy over generations. And so they understand what goes on in the minds of entrepreneurs.

It’s a virtual circle, so to speak. Entrepreneurs frequently come from a strong entrepreneurial background: it’s a family affair. In our recent Global Entrepreneur and Family Report, we’ve seen just how entrepreneurship is a family story. 50% of the entrepreneurs we surveyed came from multi-generational families with a legacy of entrepreneurship. Leading families are investing in entrepreneurial ventures. And finally, it goes without saying, entrepreneurs have their own families.

So yes, there are a lot of connections to be made in accompanying the two. 

Q: So why would entrepreneurs and families choose you over another bank? What sets you apart from the competition?

PR: Serving the professional and personal needs of these clients is part of our DNA at BNP Paribas, as a global wealth manager, and as an integral part of a global financial powerhouse. Entrepreneurs and families benefit from our world-wide set-up and our world-class offering, again for their personal needs and for their corporate needs.

You name it and we can do it for them: credit is frequently at the top of their list, personalized wealth planning for themselves and their families, responsible investment solutions responding to their SRI and ESG priorities. Of course, we’re know for our tailor-made investment products, and we provide clients access to some of the most sought-after private equity opportunities. We were one of the first wealth managers to provide philanthropic advisory to our clients. The list is long.

And we go further. They can tap the entire BNP Paribas Group, from our investor grade capital markets capabilities, real estate solutions, and securities services, to M&A and corporate advisory, and finally to borrowing opportunities thanks to our Group’s balance sheet. It’s our One Bank culture, what we call our integrated model. Bringing to our clients our best capabilities mobilizing all our teams around the world to better satisfy their needs.

This really sets us apart from other wealth managers.

Q: Strong last words. Quite a promise. Thanks for your time, Pierre.

Pierre: Thank you.