Bank of the West has tapped an executive from BNP Paribas—the bank's French parent company—to lead the wealth management business in the U.S.
Pierre Ramadier, the head of wealth management for International Retail Markets at BNP Paribas, will join Bank of the West in January 2016 as senior executive vice president and head of the Wealth Management Group. He will report to Bank of the West's chairman and CEO Michael Shepherd and will join the bank's executive management committee, the San Francisco-based bank announced on Tuesday.
Ramadier replaces John Bahnken, who will join Citizens Bank as president of its wealth management division on Oct. 5.
"We are pleased to have Pierre join Bank of the West's leadership team and support our goal of delivering a broad array of financial solutions to our affluent, high-net-worth and ultrahigh-net-worth clients," Shepherd said in a statement. "His breadth of knowledge in the international wealth management area will be a great complement to our existing financial planning, investment management, and trust and estate solutions in the United States."
Ramadier, a BNP Paribas veteran, was named head of International Retail Markets in 2012. Prior to that, he held a number of key wealth management positions, including co-head of BNL – BNP Paribas Private Banking in Rome, where he launched a new private banking business model. He also served as head of new domestic markets within BNP Paribas Wealth Management, covering Hungary, Morocco, Turkey, Poland, Ukraine, Egypt and Tunisia.
Bahnken, who will be on hand at Bank of the West through the end of the month, joined the bank in 2011 to build out its wealth management business. After launching a high-net-worth unit, he focused on the mass-affluent market, establishing a retirement and investments group within the bank's brokerage unit. Bahnken most recently was looking to establish an ultrahigh-net-worth unit, hiring Steve Prostano, the former CEO of Silver Bridge Advisors, to lead it. The new unit is expected to launch officially this fall.
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