French bank BNP Paribas has put a senior member of its fixed income team in charge of a newly merged wealth management division to push through a reorganisation and win back client trust following the credit crisis.

The new business combines BNP Paribas' private banking activities with those of Fortis Private Investment Management and Insinger de Beaufort UK. Fortis, the Belgian bank that had to be rescued during the crisis, was taken over by BNP Paribas in 2009. The French bank also bought a majority stake in Anglo-Dutch financial adviser Insinger last year.