BNP Paribas hires Clarke-Jervoise as private wealth PE head

The seasoned investor recently left the $55bn multifamily office Stonehage Fleming in London to move to Paris.

Richard Clarke-Jervoise has joined BNP Paribas Wealth Management as global head of private equity investments, according to a statement from the bank.

Clarke-Jervoise previously worked at the $55 billion multifamily office Stonehage Fleming, where he led its private capital investment team in London since 2014. His new position will be based in Paris.

You can read a profile on Clarke-Jervoise here in which he discusses what it takes to make a private equity offering appealing to family office clients. “Private equity is very intuitive for a family, because for most families, that’s where their wealth came from, it was created by a private company of one sort or another, so they get that,” Clarke-Jervoise told Private Equity International in September 2017. “And they understand risk completely from that point of view.”

BNP Paribas Wealth Management has €361 billion of assets under management and its clients include families, ultra-high-net-worth individuals, expatriates, entrepreneurs and professionals. Clients can access private equity, private debt, real estate and hedge funds through BNP’s alternatives investment programme that was launched in 1998.

BNP’s clients can invest in European, US and Asian private equity strategies like buyouts, growth, mezzanine and secondaries. The bank also offers its ultra-high-net-worth clients co-investment opportunities in these funds.

BNP has witnessed a significant pick up in client appetite for private equity over recent years, according to Claire Roborel de Climens, global head of private and alternative investments at BNP Paribas Wealth Management.

“Richard’s in-depth knowledge and expertise of the private equity investments will enable us to continue to meet high-net-worth clients’ expectations and ensure that they receive the specific advice they require,” Roborel de Climens said.