BNP Paribas Personal Investors, the brokerage arm of French bank BNP Paribas, has launched operations in Singapore as a new department within the bank’s wealth management branch in the city-state.

BNP Paribas Personal Investors’ Services operates through two teams, one focusing on Asian clients, and the other on Asia-based European clients. With a minimum investment of S$250,000 (around $172,000), both teams will offer clients the possibility of booking in Singapore and Europe with a range of products including deposits, foreign exchange, equities, bonds, funds and structured products.

In a statement, Olivier Le Grand, BNP Paribas Personal Investors’ global head, said the firm believed the time had come to penetrate Asian markets. “We clearly see Asia as a very important region for our business as it combines both high savings potential and long-term growth,” he said.

BNP Paribas is present in 85 countries and employs over 173,000 employees, of which around 132,000 are based in Europe.