BNP Partners has retained a leading executive search company as it begins its hunt for principals to lead its ASEAN satellite offices scheduled to open next year.

The Shanghai, China-based investment house and wealth manager has committed to launching satellite operations in the ASEAN region after receiving authorization from financial services regulators in Thailand, Vietnam and Indonesia to conduct investment business within their jurisdictions.

The firm says it expects to encounter challenges in its quest given the nature of investment management and wealth management markets in the host countries and the move to retain executive search services was made after much deliberation.

“It’s not an ideal situation but it’s a decision we’re comfortable with especially given the scarcity of suitably experienced but conveniently unemployed individuals on the ground,” said Gerald E. Powers, Chief Investment Officer at BNP Partners.

BNP Partners will not divulge details of remuneration packages being offered to prospective candidates but according to Powers, they are commensurate with inducements and compensation packages being offered to candidates in Western markets like the United States and Europe.

“We think the majority of candidates will hail from bancassurance providers in their respective countries. They’ll be responsible for steering the operations and driving sales whilst observing compliance standards as they pertain to the provision of investment management services to both individuals and institutions,” Powers added.

BNP Partners says that it will consider relocating personnel from its mainland Chinese office if it is unable to attract the talent required but prefers principals endowed with local knowledge.

About BNP Partners:
At BNP Partners, they define effective wealth management as an overall strategy that seamlessly integrates their clients’ personal ROI (return-on-investment) aspirations with their investment management prowess.

Whilst today’s markets can often demonstrate the type of characteristics that have served to hamper the efforts of many traditional investment methodologies to secure the returns they once did, BNP Partners continue to secure exceptional returns for their esteemed clients utilizing a meticulously applied combination of those same traditional methods whilst diligently complementing them with new, pioneering techniques.