Lecomte on sailing, sustainability and digital disruption
Private bankers are a breed apart. A conversation with an investment banker tends to be transaction-based. They want to know what you know about a deal and in turn tell you what big IPO or merger they’re transpiring. Among senior wealth managers, it is often the opposite.
Interviews in this case are increasing – but fortunately. You can inspect grass borders instead of the road ahead; take the time to smell the roses.
That’s how Euromoney sat down to talk to Vincent Lecomte, a 30-year veteran of the French global lender, who was chief executive of BNP Paribas Wealth Management for more than a decade. Over two Zoom calls, we covered sustainability, sailing, his love for all things digital and much more.
But we started on a more prosaic note. The wealth and asset management branch of the French bank recorded a 14.7% increase in revenue over the year 2021, to 3.42 billion euros, with pre-tax income up 63 .1% on an annualized basis to 951 million euros. The sector generated global net asset inflows of €7.7 billion last year.
Much of the growth was due to a strong increase in commission income and an increase in lending activity, as well as strong net asset inflows in asset management and real estate services, in particularly in the United States, France and Germany.