Why BNP Paribas Personal Finance chose Solihull for its next growth chapter
As financial services firms adapt to new ways of working, the role of the workplace has become a critical driver of collaboration, culture and long-term growth. In a competitive market, a positive company culture is a major driver of employee retention, engagement and productivity and given the rise of hybrid and remote working, is the vital glue that binds companies together and steers them to success. Choosing a strategically-located, modern space that reflects the business’ values and supports a range of working practices is key to this goal.
The Challenge
BNP Paribas Personal Finance UK is proud to have been based in Solihull for over fifty years. In that time, the business has created thousands of jobs across a variety of departments, from Marketing, IT and Risk to Customer Services and has supported over 300 partners, including household names like John Lewis, Currys and B&Q.
Given the significant evolution of working practices experienced in the last few years, BNP Paribas Personal Finance knew that remaining in an outdated workspace risked damaging colleague morale and having a negative ripple effect on the success of the organisation, compromising colleague retention, performance and company growth. To future-proof its ambitious growth plans, the business needed to invest in a modern, state-of-the-art working environment in the right strategic location – whether in Solihull or another area of the West Midlands.
The new space needed to support BNP Paribas Personal Finance’s environmental, social and governance commitments while supporting collaborative and agile working practices and catering for different aspects of colleagues’ lives, both inside and outside of work.
When looking for a new space for our headquarters, it was really important to consider how the space would complement the innovative, collaborative culture we foster here at BNP Paribas Personal Finance UK.
The Solution
As part of BNP Paribas Personal Finance’s search for its future home, the West Midlands Growth Company (WMGC) helped the business assess the merits of a number of locations across the region. However, it ultimately made the strategic choice to expand its presence in Solihull, driven by the town’s exceptional connectivity, excellent community facilities and position at the heart of the UK’s fastest growing tech sector.
We’re incredibly excited about this move and to be staying in the West Midlands. As the region with the fastest-growing tech sector in the UK, there is no better place for our team to be based to drive forward our business.
Through close collaboration with group companies Arval and BNP Paribas Real Estate, as well as Solihull Metropolitan Borough Council (SMBC) and the West Midlands Growth Company (WMGC), BNP Paribas Personal Finance secured the cutting-edge, 25,000 square foot AIR building as its new headquarters.
One of the biggest motivators behind the decision was AIR’s best-in-class environmental credentials, aligning with BNP Paribas Personal Finance’s environmental, social and governance commitments.
The team overseeing the move also placed accessibility and inclusion at the forefront of the design process. As a result, the new space offers provisions for wheelchair access, noise sensitivity, religious practices, accessible furnishing, colour blindness, has a free on-site gym, collaborative work zones and more. By placing these considerations at front of mind, the business was able to create a work environment that encouraged a truly collaborative and flexible way of working.
Alongside strengthening the firm’s sustainability ambitions, the expansion would also accelerate collaborations with regional partners, lessening the impact of service disruptions during relocation, resulting in a high level of productivity and performance during a crucial period of transition.
The Impact
BNP Paribas Personal Finance’s choice of AIR for its new Solihull headquarters has set the business up strongly for achieving its future growth ambitions, ensuring colleagues have access to a modern, productive and collaborative workspace.
As well as being aligned with the business’ environmental, social and governance objectives, the space contributes to a positive employee experience by supporting a diverse range of working practices and preferences. As an active contributor to programmes aimed at supercharging the region’s business, finance and professional service sector, BNP Paribas Personal Finance is well placed to facilitate regional growth from its new base in Solihull.
The business is driving forward digital transformation in the financial services sector as a founding participant of the fintech incubator programme, The Innovation Lab, in collaboration with SuperTech WM. The pioneering initiative is dedicated to discovering digital solutions from tech start-ups from a range of sectors to respond to real-life business challenges within the financial services industry.
The decision to remain in Solihull was also welcomed by WMGC, SMBC and other local stakeholders, including Touchwood shopping centre and Solihull BID.
BNP Paribas Personal Finance’s choice of Solihull for its new headquarters – driven by the West Midlands’ status as the UK’s largest regional financial services cluster, excellent connectivity and diverse STEM talent pool – reinforces the region’s role in advancing its global growth strategy.
We’re confident that the state-of-the-art AIR building will prove to be the ideal home for the business, and we look forward to continuing to support it to achieve its objectives and add value to the local economy.
WMGC has supported BNP Paribas Personal Finance UK by providing introductions to key local stakeholders and specialist communications consultancy to help the business raise its profile in the West Midlands marketplace. This support has enabled the company to strengthen its regional presence and build relationships with influential partners across the local business ecosystem.
Why the West Midlands
Remaining in the West Midlands enabled BNP Paribas Personal Finance to be positioned within one of only three established FinTech hubs recognised by the UK Government. Organisations such as SuperTech WM are accelerating collaboration between financial institutions, technology firms and academia, driving innovation across FinTech and PropTech while strengthening the region’s financial services ecosystem.
It’s why major financial firms like PWC, Deloitte, HSBC and Goldman Sachs have expanded their presence in the region – attracted by access to a strong pipeline of highly skilled talent produced by internationally recognised universities such as the University of Birmingham and the University of Warwick.
With a significant STEM talent pool from the region’s ten world-class universities on its doorstep, the business also has access to an evergreen pipeline of skilled talent and benefits from unrivalled connectivity, both globally and to the rest of the UK.
The Future
BNP Paribas Personal Finance’s new home at AIR not only supports the productivity and wellbeing of its team but also puts the business in a strong position for future expansion.
While colleagues are taking advantage of Solihull’s exceptional connectivity and brilliant lifestyle offering, the organisation is also vital to the health of the local business ecosystem.
Solihull now represents the 5th largest economy in the UK outside London and the Southeast, with a GVA 44% higher than the England average. Dynamic, forward-looking companies like BNP Paribas Personal Finance are absolutely critical to this economic success story.
We look forward to continuing our strong partnership with BNP Paribas Personal Finance and supporting their ambitious future growth.
As BNP Paribas Personal Finance continues to scale, WMGC remains a committed partner – ensuring the company stays connected to emerging opportunities within the region’s dynamic FinTech cluster.
