Enna Pariset, BNP Paribas Switzerland, becomes a branch – strategic move or structural streamlining?

BNP Paribas is no longer a subsidiary of BNP Paribas in Switzerland but now operates as a branch of its French parent company. What prompted this decision?

This is part of a strategic effort to streamline our legal structures across the group. In all markets where we do not operate retail banking, we have aligned our legal setup accordingly.

Switzerland was the last European market where this step was implemented, and we are very pleased with the outcome.

Importantly, we continue to be fully regulated by FINMA, while also falling under the consolidated supervision of the European Central Bank.

What does the group hope to gain from this change?

The harmonized legal structure directly supports our growth strategy. It brings greater clarity, operational efficiency, and strengthens our alignment with the BNP Paribas Group..

You will now operate branches in Zurich and Geneva. Lugano will function as an agency of the Zurich branch. What’s the rationale behind this structure?

Our Lugano office consists of a small, specialized team of 15 professionals. Given its size, it makes organizational sense to integrate Lugano under the Zurich branch.

«Clients benefit from the new structure.»

How have clients reacted to this change of the legal structure? Was there much criticism?

There has been no negative feedback.

Not a single concern raised?

None. This decision followed a nearly two-year process. Our clients were informed well in advance and fully briefed along the way.

No critical voices at all?

On the contrary, clients benefit from the new structure. They now have direct access to the BNP Paribas Group’s 2.7 trillion euros balance sheet, as well as to its strong credit ratings: A+ from S&P and A1 from Moody’s.

«We are the largest branch of an international bank ever to operate in Switzerland.»

2024, like 2023, was not a particularly strong year for BNP Paribas in Switzerland. What were the reasons?

We are in the midst of a significant transformation process, which is still ongoing. However, we are making clear progress.

We remain the oldest foreign Bank in Switzerland since 1872 and are now the largest branch of an international bank ever to operate in Switzerland. In 2024, we expanded our business with Swiss clients to 1 billion euros, and we are targeting 1.5 billion euros by 2030.

So you’re optimistic about 2025?

Absolutely. We are on the right path. Our goal is to deliver a unique value proposition – supporting Swiss corporates in competing and growing internationally, leveraging our presence in 64 countries, while also helping entrepreneurs and high-net-worth families preserve and grow their wealth sustainably.

Enna Pariset is CEO and Head of Territory at BNP Paribas Group in Switzerland.