BNP Paribas Names New Germany Wealth Head

Tom Burroughes

14 May 2025

Yesterday, .

The bank said it expected to close its acquisition of HSBC Private Banking in Germany in October this year, a process that will more than double assets managed to over €40 billion ($45.3 billion) in the country, and with a team of about 300 people.

“Germany offers strong growth potential for wealth management activities, particularly with SMEs (Mittelstand) and German entrepreneur clients. Our integrated and diversified business model is best suited to meet the long-term needs of these clients, leveraging the strong expertise of the group’s activities, notably investment and corporate banking, asset management and real estate, already well established locally,” Lutz Diederichs, CEO of BNP Paribas Germany, said. (About six years ago this news service spoke to BNP Paribas about its views on the German market's potential.)

Bachman’s successor in Switzerland will be announced in due course, the bank said.

With more than 25 years' experience in international banking, Bachman has held several senior positions in wealth management at UBS for 16 years in Switzerland and Germany; in 2015, he was appointed head of global financial intermediaries Europe at UBS. He joined BNP Paribas in August 2022.

With a science background, Bachman holds a PhD in organic chemistry from the Swiss Federal Institute of Technology (ETH) and an MBA from INSEAD.