<div id="readability-page-1"><div> <hr/> Mrs. Pariset, geopolitical tensions have increased significantly. How is this affecting BNP Paribas’ business in Switzerland? Geopolitical developments are heightening uncertainty, but we are not currently seeing any direct negative impact on our business in Switzerland. The key is to consider various scenarios without overreacting. The range of possible outcomes is broad—from stabilization to prolonged conflicts, with rising energy prices and recession risks. Accordingly, we are proceeding with cautious optimism. How are your clients responding to this environment? We are clearly seeing a «wait-and-see» attitude. Many clients are struggling to precisely quantify risks right now. Where we can we help our corporate and institutional clients hedge various risks, whether it be interest rate or commodities risks. <blockquote> «We are seeing Wealth Management inflows from the Middle East—but on a moderate scale.» </blockquote> At the same time, on the Wealth Management front, certain asset classes remain in demand. Swiss equities, in particular, benefit from their reputation as stable and defensive investments. We are also observing selective inflows, such as from the Middle East—though on a moderate scale. How do you currently assess the Swiss financial centre? The disruption period is over, the Swiss marketplace has stabilized and found its «new normal». Competition and client movements are part of normal market dynamics. We also see that international institutions contribute to the quality and innovation of the Swiss financial centre. More competition ultimately leads to better solutions and service for clients. The Swiss Bankers Association comprises some 263 members which is a testament to robustness of the Swiss financial centre. A key topic for BNP Paribas is the integration of AXA Investment Managers. Where do things stand? At BNP Paribas Group level, AXA Investment Managers merged with BNP Paribas Asset Management on December 31, 2025 and locally AXA Investment Managers Switzerland changed their name to BNP Paribas Asset Management on May 1, 2026. Globally our asset management business has over €1.6 trillion in assets under management (as of early 2026). For Switzerland, this is particularly relevant as thanks to this acquisition the asset management business becomes our fourth business pillar locally. What concrete benefits does this bring to BNP Paribas’ Swiss business? Oh, there are plenty of opportunities. For me, this is a big deal. AXA Investment Managers is a gamechanger for us. As they say, you work hard, and sometimes in life, you also get lucky. This is our lucky break. I call it a gift from our parent company. The combination brings additional expertise, particularly in real assets, we have over CHF 20bn AUM in real estate in Switzerland. But our local structure is also crucial: with a Swiss management company, our offer will be virtually unlimited and highly tailored at the same time, serving the needs of institutional investors, corporate treasurers and our wealth management clients. We will in particular expand our offering for Swiss pension funds. Today, we manage around CHF 75 billion for Swiss clients, over CHF 50 billion of which is locally managed. We aim to further expand this business. BNP Paribas is also building new activities in corporate and investment banking, such as share buybacks. What’s behind this? We are directly responding to client needs. The share buyback market in Switzerland has a particular feature, i.e. the second line, and has long been dominated by only a handful of banks. <blockquote> «We explicitly welcome competition. More providers improve market quality.» </blockquote> With our infrastructure and operational expertise, we have successfully entered this space, and are about to execute two mandates for over CHF 1bn each. We are proud to provide the share buyback service for Swiss companies. How do you view increasing competition from international banks, particularly from the U.S.? We explicitly welcome competition. More providers improve market quality and efficiency, including price discovery, and drive innovation. For us, the key is to remain relevant—through client proximity, rapid execution, and tailored solutions. What role do technology and AI play in your strategy? Banking today is all about technology which is now a permanent focus at the management level. Developments in AI and cybersecurity require continuous attention. BNP Paribas Group was an early investor in Mistral, and we are using their LLMs in our various businesses. <blockquote> «International wealth management clients are showing renewed interest in Switzerland—as an alternative to Dubai.» </blockquote> This has become the «new normal»: we must constantly adapt, stay innovative, and keep risks under control. How are you positioning yourselves in an increasingly volatile market environment? Our strength lies in a diversified business model. Different business areas react differently to market movements—some even benefit from higher volatility. Additionally, Switzerland remains a central anchor of stability. For example, we see that certain international wealth management clients are showing renewed interest in Switzerland—sometimes as an alternative to other financial hubs like Dubai. The Swiss franc remains a currency of choice for many international corporate and financial institutions issuers, and we now regularly lead the issuance of several CHF bonds per day. What are your next strategic priorities in Switzerland? Simply put – more growth and further expansion and this applies to the four business pillars we now have in Switzerland – Corporate and Institutional Banking (CIB), Wealth Management, Asset Management and Arval which combined have 1200 employees across our 6 locations. We will launch our 2026-2030 Growth plan for Switzerland in early July. We want to further expand our asset management business, particularly with locally anchored solutions and serve Swiss pension funds. At the same time, we are driving innovation in corporate and investment banking, we intent to further grow our Wealth Management Swiss domestic business, including with single family offices, while investing in technology across the board to secure our long-term competitiveness. At the heart of it all is the client—and our ability to quickly respond to new and changing needs. We are the bank for a changing world. <hr/> Enna Pariset is CEO and Head of Territory for BNP Paribas Group in Switzerland. She has worked in the finance industry for over 30 years in the US, the UK, France and Switzerland. With BNP Paribas for 22 years in Switzerland and the UK, she has held both client origination and management roles, encompassing Mergers &amp; Acquisitions, Commodities and Coverage and has served as Global Head of Metals and Mining Investment Banking and Head of Food, Beverage and Retail Investment Banking EMEA. She has previously worked at the World Bank and J. P. Morgan. </div></div>

AXAHY

BNPQY

The CEO of BNP Paribas Switzerland, Enna Pariset, discusses the bank's strategy amid geopolitical tensions and market volatility. She highlights the integration of AXA Investment Managers as a significant opportunity, enhancing their asset management capabilities. Despite a cautious client attitude, there are inflows in Wealth Management, particularly from the Middle East. Pariset emphasizes the importance of competition in the Swiss financial market and the role of technology and AI in their operations. BNP Paribas aims to expand its services, particularly for Swiss pension funds and corporate banking activities.

CEO of BNP Paribas Switzerland: «AXA Investment Managers is a gamechanger for us»