Private Banks
BNP Paribas
An independent review of BNP Paribas by our team of experts
Book a Discovery CallSummary
BNP Paribas was formed in 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas, and is one of the largest banking groups in Europe.
It operates across more than 60 countries with over 180,000 employees, offering retail, corporate and institutional banking alongside investment solutions.
Established in France as a partnership limited by shares, BNP Paribas is authorised and supervised by the European Central Bank (ECB), the ACPR (Autorité de Contrôle Prudentiel et de Résolution) and the AMF (Autorité des Marchés Financiers).
Pros
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Well-known global brand
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Strong digital banking
Cons
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Expensive
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Not a fiduciary
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Sales-led approach
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Not the best way to invest
Our verdict
BNP Paribas is one of Europe's largest banks, with a global brand and genuine reach. At that scale, the traditional values you would expect from a private bank, trust and an uncompromising duty of care, become harder to sustain.
Like any universal bank, BNP can offer its own products and services rather than going to the open market for the best available, and because it does everything, its bankers tend to be incentivised to sell a little of everything. It is also most engaged with the very wealthy, those above roughly GBP 10 million, which means clients below that threshold can receive a noticeably lighter standard of service.
The underlying point is structural. A bank sells what a bank holds. Serious wealth work begins one level up, with the whole picture coordinated across your investments, structures, pensions, protection and succession, and with advice that answers to you rather than to a product shelf.
If you are already a private banking client of BNP Paribas, a no-obligation Second Opinion will show whether your portfolio still serves your plan, or whether the plan was ever the starting point. AES will also review the thinking that led to the investments you currently hold.