|By PR Newswire||
|September 3, 2014 11:00 AM EDT||
SAN FRANCISCO, Sept. 3, 2014 /PRNewswire/ -- Bank of the West today announced that Wade Balliet, senior vice president and CFA, has been named chief investment advisor for Bank of the West. Balliet has also formally been named a member of two BNP Paribas (BNPP) global investment management teams – the International Asset Allocation Committee and the BNPP Wealth Management Discretionary Management Equity Committee.
In his new role, Balliet will lead Bank of the West's Investment Advisory & Management team which is comprised of portfolio managers who work with affluent and high net worth clients to manage their assets on a day-to-day basis. In addition, he joins senior representatives worldwide who provide a global vision for asset allocation programs as part of the BNPP network, led by Florent Brones, chief investment officer of BNPP Wealth Management. As a member of these teams, Balliet will share U.S. perspectives and bring global insights back to inform his team's strategies for U.S. clients.
Balliet, based in Bank of the West's Denver office, joined the bank in 2001. Balliet is credited with many successes throughout his 13-year tenure at the Bank, including the further development of the Investment Advisory & Management team's proprietary investment strategies. Today, those strategies are accessible for all of the bank's clients through its Investment Advisory Solutions platform which has grown by 300% in assets under management since its launch in 2012. In 2013, Balliet was recognized by the Denver Business Journal in its annual "Power Broker" ranking.
"Increasingly, wealthy individuals worldwide are expanding global investment exposure to their portfolios. One of Bank of the West Wealth Management's differentiators is that we can not only bring global investment insights to our clients, but we can literally connect them to investment teams in Europe and Asia," said John Bahnken, senior executive vice president and head of Wealth Management at Bank of the West. "Very few wealth managers deliver that value to clients, and with Wade's expanded role we're in an even stronger position to set ourselves apart with true global wealth management."
"Our global pool of investment talent is very strong, and we're fortunate to have an investment leader of Wade's caliber as part of this network of chief investment advisors," said Sofia Merlo, Co-CEO of BNP Paribas Wealth Management. "Wade is a perfect example of a leader who links the global investment landscape to our local clients' needs and goals."
Bank of the West Wealth Management provides wealth planning consulting, investment management, personal banking, and trust services. The group is part of BNP Paribas' global wealth management business, the world's 5th largest wealth manager, with more than 6,300 professionals in 30 countries worldwide, $10 billion* in assets under management in the United States and $404 billion (€295 billion) in assets under management globally as of June, 2014.
About Bank of the West:
Bank of the West is a regional financial services company chartered in California and headquartered in San Francisco with $69 billion in assets. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 650 offices in 21 states and the internet (bankofthewest.com). Bank of the West is a subsidiary of BNP Paribas, which has a presence in 75 countries with 180,000 employees.
* Including assets under supervision at BancWest Investment Services
Securities and variable annuities are offered through BancWest Investment Services, Inc., a registered broker/dealer, Member FINRA/SIPC. Financial Advisors are registered representatives of BancWest Investment Services, Inc. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California (License # 0C52321) and through BancWest Insurance Agency in Utah, and through BancWest Investment Services in AZ, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, WA, WI, WY, HI, GUAM and CNMI. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors.
Bank of the West Wealth Management provides financial products and services through Bank of the West and its various affiliates and subsidiaries.
BancWest Investment Services is a wholly owned subsidiary of Bank of the West and a part of the Wealth Management Group. BancWest Corporation is the holding company for Bank of the West. BancWest Corporation is a wholly owned subsidiary of BNP Paribas.
Investment and Insurance Products:
NOT FDIC INSURED
NOT BANK GUARANTEED
MAY LOSE VALUE
NOT A DEPOSIT
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
SOURCE Bank of the West
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