In the countdown to the coveted CampdenFB European Families in Business Awards, Vincent Lecomte and Sofia Merlo, co-chief executives of new partner BNP Paribas Wealth Management, discuss the trends they are seeing in Europe’s family business community and give their advice for sustainable success.
The eighth annual awards will be presented in Milan on 2 July at a gala dinner event attended by some of the Eurozone’s best-known families. Since 2012, the event has become the leading awards for family-owned businesses on the continent and has toasted 45 winners and 200 shortlisted nominees over the past seven years.
Why is BNP Paribas Wealth Management sponsoring the European Families in Business Conference and Awards?
Family-owned businesses are critical to European and global economies, both in absolute terms and as part of the effort to drive European economies going forward. At BNP Paribas Wealth Management we have made it our mission to assist families and grow their assets by leveraging our breadth of experience and capabilities to provide opportunities and ideas to them. With this ambition in mind to build close long-term partnerships, it was natural to collaborate with Campden on one of the most prestigious family business conference and awards in Europe.
What trends are BNP Paribas Wealth Management seeing in the ultra-high net worth (UHNW) family business space in Europe?
We certainly see major evolutions, driven by low interest rates, mass adoption of new technologies and uncertainties in the global political landscape. In our changing world, most major economies have been resilient and continue to provide fertile ground for investors with an eye on long-term returns. In that background, we see family businesses both at the forefront of the ongoing evolution and ready to seize new investment opportunities.
How can UHNW family businesses succeed in this era of disruption and uncertainty?
Family businesses tend to have a long-term view and more diversified portfolios aiming at preserving capital, growing assets and to ensure they can benefit from new trends while not taking outsized risks. In the current landscape, family businesses provide stability to go through cycles and create value in the long run, therefore are well positioned to capture new opportunities.
We think that a rational and data-driven long-term investment strategy, in line with most family businesses mind-sets, is the best way to consider investment opportunities.
What support does BNP Paribas Wealth Management offer European families of wealth to help sustain their businesses?
BNP Paribas Wealth Management offers a full breadth of tailor-made products and services suited for families and family offices. With €377 billion ($423 billion) of assets under management, we are the largest private bank in the Eurozone with presence in all the major markets globally.
We are the natural wealth management partner for families around the world, wanting to manage, preserve and develop their wealth across generations over the long term. To answer the growing appetite from families and entrepreneurs to generate positive impact through their investments and their business, we are committed to develop sustainable investments.
Backed by the Bank’s specialist advisers from its Corporate and Investment Banking division as well as experts in Asset Management, Real Estate, Insurance and Securities Services, our wealth managers are the gateway to the Bank’s full suite of expertise, offering solutions to both the personal and business needs of the most important families.
Thanks to our multinational presence and with more than a century of experience in accompanying major European economies and families, we have an intimate knowledge of the unique challenges facing family businesses. We address the constantly evolving needs of our family and family business clients with a long-term view.
Visit BNP Paribas Wealth Management for information for family businesses and private wealth.