BNP Paribas Wealth Management Asia-Pacific will continue with its hiring plans despite the financial turmoil, said its newly appointed chief executive Serge Forti. BNP Paribas, France's biggest bank, has a headcount of about 300 at its wealth management unit in Singapore.

And this number is likely to rise to nearly 500 by the end of the first quarter of next year, Mr Forti said.

Of the new additions, about 30 will be senior relationship managers, each with over five years of experience and each bringing with him at least US$200 million in assets.

'We already have the list of people,' said Mr Forti at a lunch meeting on Wednesday at The Tower Club.