U.S. Entrepreneurs Make an Impact through Business, Investments and Their Lives, According to BNP Paribas Global Entrepreneur Report

When asked what their top motivation was for socially-responsible investing, U.S. entrepreneurs said that they wanted to have peace of mind that their investments were not causing any harm (42%), followed by investing in a way that reflects their values (36%) and ensuring that they have a positive impact for a specific set of good causes (34%). American entrepreneurs also identified the socially and environmentally focused investment vehicles that most interested them were: equity funding, social business investing, social impact bonds, impact investing and green bonds.

"Over the last decade, entrepreneurial success has been redefined along two parallel tracks of financial profit and social impact. That trend is spearheaded by younger generations of entrepreneurs and is fully entering the mainstream," said Pierre Ramadier, Group Head of Wealth Management for Bank of the West. "Today, the social good ‑ including sustainable job creation, environmental impact and overall community responsibility ‑ of one's enterprise is as important as its own financial success."

Over the past 12 months, the concept of positive impact, which consists in ensuring that their business, investments and personal practices make the world better, has moved up the agenda for global entrepreneurs. The report polled over 2,700 multimillionaire entrepreneurs in 22 countries, handling a total wealth of USD 36 billion, highlighted that:

• 55% have declared they committed a proportion of their wealth to achieving socially responsible outcomes.
• 80% believe that entrepreneurship is the best way to generate a global or local impact in particular relating to help safeguard the environment (with 53% in China). In Europe clean energy is the most popular cause (35%) while in the U.S. and the Middle East, job creation ranks top of the impact agenda (36% and 40%).
• Elite Entrepreneurs anticipate significant increases in their future use of investment funds (34%), start-up financing (34%), private equity (32%), equity funding (32%) and impact investing (29%).

"Entrepreneurs ‑ both in the United States and around the world ‑ have always been a key driver for economic growth, job and wealth creation," said Kristin Nelson, Head of Strategy, Bank of the West Wealth Management. "However, we are now seeing a clear evolution in the mentality and behavior of elite entrepreneurs, in which they are beginning to also see themselves as creators and champions of safeguarding the environment, supporting job growth, expanding clean energy, combating poverty and eradicating famine. These entrepreneurs have set their bar high, but are dedicated to using their positions to make an impact on the careers, lives and communities of the people they employ."

Find out more about the behaviors, drivers and goals of elite entrepreneurs in the full report at wealthmanagement.bnpparibas.

About BNP Paribas Wealth Management
BNP Paribas Wealth Management is a leading global private bank and #1 Private Bank in the Eurozone. Present in three hubs in Europe, Asia and the US, over 6,600 professionals provide a private investor clientele with solutions for optimizing and managing their assets. The bank has €358 billion worth of assets under management (as at 30 September 2017) and was elected "Best Private Bank for Entrepreneurs" in 2016 and 2017.
BNP Paribas Wealth Management leverages all of the Group's capabilities to help entrepreneurs build a bridge between professional and personal projects at each step of development of their company.
https://wealthmanagement.bnpparibas/en/who-we-serve/entrepreneurs.html

About BNP Paribas
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

About Bank of the West Wealth Management
Bank of the West Wealth Management provides wealth planning, investment management*, personal banking, philanthropy, and trust and fiduciary services. The group is part of BNP Paribas' global wealth management business of more than 6,600 professionals present in three hubs in Europe, Asia and the U.S. with more than $12.9 billion** in assets under management in the United States and €358 billion ($414.7 billion) in assets under management globally as of September 30, 2017.

About Bank of the West
Bank of the West is a regional financial services company headquartered in San Francisco. Founded in 1874, Bank of the West provides a wide range of personal, commercial, wealth management and international banking services through more than 600 branches and offices in 23 states and digital channels. Bank of the West is a subsidiary of BNP Paribas, a leading bank in Europe, which has a presence in 74 countries with more than 192,000 employees. To learn more about Bank of the West, visit About Us via BankoftheWest.com.

About Scorpio Partnership
Scorpio Partnership is the leading insight and business consultancy to the global wealth industry. The firm specialises in understanding the wealthy and the financial institutions they interact with. We have developed four transformational disciplines – SEEK, THINK, SHAPE and CREATE – each designed to enable business leaders to strategically assess, plan and drive growth. We leverage our deep insight into client needs and expectations to create practical and actionable business development strategies.
Scorpio Partnership has conducted more than 500 global assignments across wealth for institutions in the banking, fund management, family offices, law, trusts, regulation, IT and technology, insurance and charity sectors. In the course of these assignments, the firm has interviewed almost 75,000 private investors and advisors. Scorpio Partnership has won multiple awards for its consultancy surveys, market insight and thought leadership across Europe, Asia, and the United States. These awards have been voted by industry peers. The firm is part of McLagan, an Aon Hewitt group company.
www.scorpiopartnership.com

Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. © 2017 Bank of the West. Doing business in South Dakota as Bank of the West California.

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*Securities and variable annuities are offered through BancWest Investment Services, a registered broker/dealer, Member FINRA/SIPC, and SEC Registered Investment Adviser. Financial Advisors are Registered Representatives of BancWest Investment Services. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California, (License #0C52321) and through BancWest Investment Services, Inc. in all other states where it is licensed to do business. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business. Bank of the West and its various affiliates and subsidiaries are not tax or legal advisors. BancWest Investment Services is a wholly owned subsidiary of Bank of the West. Bank of the West is a wholly owned subsidiary of BNP Paribas.
** Assets under management refers to assets under administration, management, advisement, and on deposit, including assets with our affiliate BancWest Investment Services as of September 30, 2017.

Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. In South Dakota, Bank of the West operates under the name Bank of the West California. Bank of the West Wealth Management offers products and services through Bank of the West and its various affiliates and subsidiaries.

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