Published by Wealth Briefing Asia – 27th Mar 2018
BNP Paibas the French banking group, has appointed Vikas Jaidka as the new head of Non-Resident Indian (NRI) clients.
Based in Singapore, reporting into Samir Bimal, head of Indian markets, Jaidka will lead the NRI teams in Hong Kong and Singapore.
Jaidka replaces Masroor Batin who has moved to take on new responsibilities at the WM Middle East and Africa market, this publication understands.
Prior to joining BNP Paribas Wealth Management, Jaidka held senior positions at Citibank and was responsible for establishing and developing the bank’s NRI business across Asia-Pacific as well as in the UK, the United Arab Emirates and Africa.
“The NRI segment is clearly a growth area for our business in Asia. With Vikas coming on board, and our strong foothold of serving ultra-high net worth clients in the region, we are well positioned to achieve our ambitious goals in this growth market,” Pierre Vrielinck, chief executive, Wealth Management Asia-Pacific, said.
The bank added that it is committed to expanding its NRI offering.
Aa at the end of last year, BNP Paribas oversaw €364 billion ($454 billion) of assets. While some other European banking groups have cut back on Asian business, citing inability to attain sufficient critical mass of profitable business, BNP Paribas said it continues to grow in the region.
