French bank BNP Paribas has named Serge Forti as its new Asia-Pacific chief executive and said it will increase headcount at its Singapore wealth management operation by 67 per cent by the end of next year.

The appointment of Mr Forti, which was announced by BNP Paribas today, follows the move of former Asia-Pacific head Michel Longhini to lead the bank’s Wealth Management International business line.

As reported by The Straits Times, Mr Forti said that despite global economic uncertainty, BNP Paribas will push ahead with large-scale hiring plans for its Singaporean wealth management unit, increasing headcount from 300 to 500 employees by the end of 2009.

Of the new appointees, Mr Forti said that about 30 will be senior relationship managers, each of whom will bring with them at least $200 million in assets.

'”We already have the list of people,” Mr Forti is reported to have said.

Meanwhile, it was announced last week that BNP Paribas Investment Partners and Chilean bank BancoEstado have agreed to form an asset management partnership in Chile, which will result in BNPP IP owning just under half of BancoEstado’s asset management subsidiary.

Under the agreement, BNPP IP will buy a 49.99 per cent stake in BancoEstado Administradora General de Fondos. Simultaneously, BEAGF will enter into a 20-year exclusive distribution agreement with BancoEstado.

BNP Paribas has a presence in 85 countries, employing 171,000 people worldwide, of which 131,000 are based in Europe.