Hi everyone,
I’m trying to understand the real role of BNP Paribas CIB in Portugal, and more specifically, its Lisbon offices. Is it primarily a back-office hub in disguise, or does it genuinely handle strategic and product-driven functions? To be more specific, I’m being considered for a ESG position, particularly one closely tied to strategy and product implementation.
Also, why did BNP Paribas choose Lisbon for this setup? Any insights on working conditions, culture, and benefits would be greatly appreciated.
Thanks in advance for your input!
Based on the most helpful WSO content, BNP Paribas CIB in Portugal, particularly in Lisbon, is often perceived as a hub for back-office and support functions. However, it has been expanding its scope to include more strategic and product-driven roles, especially in areas like ESG (Environmental, Social, and Governance). This aligns with BNP Paribas' broader focus on sustainability and innovation, which could mean that your ESG position might indeed involve strategic and product implementation responsibilities.
As for why Lisbon was chosen, several factors likely played a role: 1. Cost Efficiency: Lisbon offers a lower cost of living and operational expenses compared to other European financial hubs like Paris or London. 2. Talent Pool: Portugal has a growing pool of multilingual and well-educated professionals, particularly in finance and technology. 3. Quality of Life: Lisbon's attractive lifestyle, climate, and relatively affordable living costs make it appealing for both companies and employees.
Regarding working conditions, culture, and benefits: - Culture: BNP Paribas is known for its hierarchical and traditional culture, especially in its European offices. However, the Lisbon setup might have a more modern and collaborative environment, given its focus on newer initiatives like ESG. - Working Conditions: Hours can be demanding, as is typical in the finance industry, but this can vary depending on the specific team and role. - Benefits: BNP Paribas generally offers competitive benefits, including health insurance, meal allowances, and opportunities for professional development.
If you're considering the ESG position, it could be a great opportunity to work on impactful projects while being part of a growing hub in Lisbon. However, it’s worth clarifying the exact nature of the role during the interview process to ensure it aligns with your career goals.
Sources: European IBs & Commercial Banks, Non US/Europe IB/PE Overview, Investment Banking in Paris, BNP PARIBAS 2019 SA, BNP Paribas Investment Banking
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