A BNP Paribas executive says the quality of brand and range of products and services are key to the firm's success Brand and the strength of a reputation are vital characteristics for a private bank, according to Michel Longhini, head of strategy and development Asia for BNP Paribas Private Bank. 'Private banking is a complex mixture. The first point is the reputation. Why do I enter into that shop? That is why the private bank name is very important. When you have a very strong, long-standing reputation as a private bank, you attract clients,' Mr Longhini said. 'It is really the opening of the relationship. Someone who has US$5 or $10 million, or even $100 million will never open the door to a bank which is not well known or does not have a sufficient balance sheet. That is the minimum requirement to have access to the wealthiest clients. And then, obviously, what you have to offer is very important. 'Reputation enables you to make contact with people, and they will open the door because you are a big name, because you are one of the leading banks in the world. This is a very strong point. It helps the bank get into contact with the client. And then, once you have made this contact, you need distinctive products.' Mr Longhini said that in addition to reputation, the quality and the range of a bank's product and service offering were also vital to success. 'In some aspects it is very much like a fashion brand name. When you are Louis Vuitton, you need to have a very good reputation in terms of brand so that people come to your place, your shop. 'But customers also need to know they will find a sufficient range of products with some of the big standards associated with your name.' Successful private banks needed a solid reputation, but also a range of distinctive products to set them apart from their competitors, he added. 'There is also the possibility to be a one-stop shop where most clients are able to find whatever they need with you, whether it is advice on buying property or art, or whatever,' Mr Longhini said. Once a client had joined with a private bank, and the relationship had continued to develop, the bank would be assessed on the strength and breadth of its offering of products and services, Mr Longhini said. Some services offered by private bankers appeared a world apart from traditional banking. 'For example, BNP Paribas Private Bank has a very strong art advisory service. We are also No1 by far in the residential and vineyard property markets in France. We advise on vineyards, castles in France, properties on the Riviera, all these types of things. Obviously, being the leader in France, we have a very strong position.' BNP Paribas was ranked No1 in private banking in France and second in retail banking, he said. As a worldwide organisation, BNP Paribas is keenly aware of the importance private bank clients place on global reach and local service. Mr Longhini said his bank had a strong commitment to its private banking operations worldwide. 'This is so strong that it has been decided and implemented now to have separate private bank subsidiaries.' For example, in Asia, Hong Kong and Singapore were two branches of BNP Paribas Private Bank. Mr Longhini said: 'This is an example of the commitment by a big bank to the private banking sector. As a result, we have a structure fully dedicated to private banking with separate systems. 'This is a very important tool when we are talking about convincing clients. We are able to show them that the commitment from the bank is very strong, that we have decided to have a fully dedicated bank dedicated to private banking. 'The other thing is the full integration. The client, through his private bank in Asia, has access to all the products of the private bank worldwide.'