French private bank BNP Paribas Wealth Management has opened its first office in New York to better serve HNW individuals and ex-patriates.

The office is located in New York in the Midtown district of Manhattan at 787 7th avenue.

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The newly launched office will cater to families, business owners, HNW individuals in New York and the surrounding area.

Pierre Ramadier, Head of BNP’s West Wealth Management Group, said: “Our unified, global approach to wealth management, which is backed by the extensive capabilities of BNP Paribas, positions us well to be able to meet the needs of expatriate clients.

“We believe there is significant potential to grow our presence in New York, one of the largest wealth markets in the world.”

The Midtown office has all of the Bank of the West’s services. These include: traditional wealth brokerage and advisory services, portfolio management, philanthropic services and financial and estate planning.

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BNP Paribas Wealth Management’s co-CEO Sofia Merlo, said: “The opening of this first centre in New York underscores our commitment to supporting entrepreneurship, innovation and international networking.

“We will be able to support our clients in their development both in the Silicon Valley and in New York.

Merlo added: “It will also facilitate the access to our strong European home base all the way to our growing presence in Asia.”

The wealth manager has an AuM worth €364bn as of 31 December 2017.