BNP Paribas has named Martin Loh as the director of wealth management for the Chinese market, the French lender announced. According to the release, Loh will be based in Hong Kong and be in charge of expanding the company's operations in China. He held top positions at Credit Suisse and early in his career, a variety of jobs at UBS, Citibank, Sumitomo Bank Corporate Finance, and DBS Corporate Banking, before joining BNP Paribas.
Loh will function under the functional direction of Lemuel Lee, the head of wealth management for Hong Kong, and report directly to Arnaud Tellier, the CEO of BNP's Asia division. The global investment banking division of BNP Paribas, the biggest banking group globally, is called BNP Paribas CIB (Corporate and Institutional Banking). With more than US$3.1 trillion in assets, BNP Paribas was named the biggest bank and corporation in the world.
Benefiting from the Group's substantial asset base (more than €2 trillion) and varied business strategy, BNP Paribas CIB is demonstrating resilience in the face of the economic and financial crisis that has plagued the banking industry since 2007. In the second quarter of 2009, BNP Paribas CIB's revenues almost doubled as the bank's fixed income trading business segment saw strong investor demand. Following record revenues of €3.696 billion in the first quarter of 2009, CIB's revenues for the quarter came to €3.351 billion (US$4.82 billion), up 81% from the second quarter of 2008.