The banking group has unveiled a new training facility in Singapore for the Asia region, part of a trend of large banks developing such programmes to win the war for talent.

BNP Paribas has inaugurated its Asia-Pacific campus in Singapore, described as the French bank’s first training and talent development facility in the region, a move coming shortly after one of its European rivals opened a similar centre.

The opening ceremony was joined by Ravi Menon, managing director of the Monetary Authority of Singapore, as the honourable officiating guest.

Located in Singapore, the Campus is described by BNP Paribas as “a key component of the Group’s Asia Pacific  growth plan”.

With a shortage of talented relationship managers and other staff an oft-raised complaint in the wealth management industry, firms such as Credit Suisse and UBS, among others, have sought to develop in-house talent as well as recruit from outside. (To view the recent Credit Suisse example, click here. To see other examples of training courses aimed at wealth management around the world, see here.)

“We are committed to investing more in talent both here in Singapore and in Asia Pacific. Having been  present in the region  for over 150 years, we  employ over  8,000  people  in a wide range  of businesses spanning 14 markets; people  development is one of our core values and is key to continued success. In partnership with the Singapore Government, we have built this world class facility which underlines our ambitions for both Singapore and  the wider  Asia Pacific region,”  Eric Raynaud,  chief executive of BNP Paribas Asia Pacific, said in a statement.

The firm will train 3,200 employees per annum from Singapore, Asia-Pacific and some of its 75 countries worldwide, with a range of programmes specifically designed to cover  eight paths: Talent Development; Leadership & Management; Individual  Skills; Risk &  Credit; Compliance &  Regulatory; Product &  Technical  Proficiencies; Diversity & Inclusion  and Corporate Culture & Citizenship.

Supported by the Government of Singapore, BNP Paribas has invested S$24 million  to restore  two conservation buildings  which  house  the BNP Paribas Asia  Pacific  Campus. The restoration work started in 2012 and was completed within 15 months. The  Campus  covers  a total surface area of 14,120  square metres and is  located  close to Singapore’s  Changi  International  Airport.