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Chang joins BNP from Fortis Wealth Management in Taiwan where he was a senior executive. He will report to Claude Haberer, chief executive for BNP Paribas Private Bank in Hong Kong and North Asia.
ôWe are committed to further developing our wealth management business in Taiwan. We have a flagship branch in Taipei and another team in TaiwanÆs second largest city, Kaohsiung,ö says Haberer in a written statement. ôThe appointment of Eddie will further strengthen our Taiwan office both in terms of its business platform and strategies.ö
ôEddie has a great track record in the Taiwan wealth management market and he will bring to bear his ample experience and client network to help expand our operations and capitalise on the significant opportunities and growth in the Taiwanese market,ö he adds.
The wealth management market in Taiwan has shown solid growth over the past two years and, in that period, BNPÆs wealth management team has expanded to become the second largest among foreign banks.
A veteran banker, Chang has over 19 years of experience in TaiwanÆs financial advisory and securities industry. Prior to his stint with Fortis, he worked with Merrill Lynch and AIG Securities Investment Consulting Enterprise in Taiwan.
AsiaÆs wealth management industry has been riding on the back of robust economic growth in the region, which has resulted in the Asian population becoming increasingly affluent. Recently there has been a hiring spree as banks build up their wealth management franchises to meet the rising demand. At the beginning of this year Julius Baer hired four relationship managers from UBS, and HSBC named Gary Hung as North Asia head of intermediaries within wealth management sales û a division which designs structured products that the bank sells to its retail and private banking clients.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
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