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Premium financial services, asset management, tailored support, diversified investments… what if private banking wasn't just for the super rich? Vincent Villebesseix, Head of BGL BNP Paribas Banque Privée, tells us more.

What is the main difference between private banking and traditional banking?

The biggest difference lies in the support provided by a single point of contact – a private banker certified by an independent body and assisted by a number of in-house experts (wealth engineers, portfolio managers, product specialists and more).

A personalised relationship is then established as part of a comprehensive approach that combines three aspects: financial, tax, and legal.

"The range of services offered is extremely wide and covers all of the client's needs, whether for financing, day-to-day banking, or the most sophisticated investments."

- Vincent Villebesseix, Head of BGL BNP Paribas Banque Privée

Risky investments?

Private banking at BGL BNP Paribas covers both day-to-day banking services and "standard" investment products, but also solutions that provide for the most sophisticated needs. It offers a very broad range of solutions for all investment profiles, from the most conservative to the most dynamic.

Dialogue with the private banker is vital in order to determine the investment horizon and the risks incurred on the various investments, and hence decide on an allocation that meets the client's expectations.

What are the entry requirements?

The entry point for BGL BNP Paribas Banque Privée is set at €250,000 in assets under management, while clients with over €5 million are eligible for our wealth management service.

These thresholds aside, our services may also be useful ahead of procedures or events such as the sale of a business.

How have the habits of private banking clients changed?

• On the investment side, in recent years we have seen significant growth in socially responsible investments (SRI) and non-listed investments (private equity in particular). These themes are likely to remain a key focus over the coming years.

• On the behavioural side, and in particular since the health crisis, in-person meetings with private bankers have been combined with increasing use of tools such as videoconferencing, telephone calls, and e-mails, including with our various experts.

Banking reserved for insiders?

Not at all. One of our strengths is an extremely diversified range of products and services covering all of our investors' needs, from the simplest to the most complex. Private bankers can adapt a transparent, explanatory approach to each client.

"One of the strengths of BGL BNP Paribas is an extremely diversified range of products and services. This covers all investor profiles, from the most conservative to the most dynamic."

- Vincent Villebesseix, Head of BGL BNP Paribas Banque Privée

I'm eligible for private banking at BGL BNP Paribas: what are the next steps?

For more information on the services we offer across the Grand Duchy, just call into a local branch of BGL BNP Paribas or contact a Private Banking advisor through the dedicated page of our website.

Once the first contact has been made, an initial meeting will be arranged to identify your needs, explain the range of services provided, and set some goals.

Want to know more about our private banking services? Go to www.bgl.lu/en/private-banking