Asset management involves creating, managing, and optimising real estate and investment portfolios on behalf of corporate, institutional and individual clients (retail and private banking) through distribution networks such as those of BNP Paribas.
This is a core pillar of the Group’s long-term strategy. Asset management generates stable and recurring income, consumes minor amounts of capital, and offers solid prospects for medium- and long-term growth. It is also part of the Group’s mission to contribute to economic development by encouraging the mobilisation of savings to support projects that are essential for the future of society and that best serve the interests of clients.
Enhancing the Group’s capabilities to better serve its clients and partners
With over 30 years of expertise, approximately €880 billion in assets under management and 2,900 employees in 19 countries, AXA IM will become part of the Group's Investment & Protection Services (IPS) division, which specialises in investment, savings, protection and real-estate services.
By combining the expertise of AXA Investment Managers, BNP Paribas Asset Management and BNP Paribas Real Estate Investment Management, the Group becomes a major European asset management platform with over 1,500 billion euros in assets under management: a change of scale for the Group, which is thus positioned among the leading European players in the sector and as the leader in the management of long-term savings for insurance companies and pension funds.
Bringing these recognized capabilities together will allow the Group to provide an enhanced service to its institutional, corporate and individual clients through access to a broad range of traditional and alternative investments solutions, along with a more comprehensive offering in sustainable investment and private assets. The merger will also bolster the Group's global distribution network and technological innovation capabilities.
With this acquisition, BNP Paribas becomes the European leader in long-term savings management for insurance companies and pension funds and aims to become also:
- the leader for inflows of private assets in Europe
- one of the main providers of ETFs (exchange-traded funds) in Europe.
"We are delighted to welcome the AXA IM teams to the BNP Paribas Group. We are uniting our highly complementary capabilities while sharing the same passion and values of excellence, teamwork, innovation, commitment to sustainability, and care in managing risks. Together, we will establish a European leader in asset management, able to meet the challenges of a changing world.”
Renaud Dumora, Deputy Chief Operating Officer of BNP Paribas Group, Head of Investment & Protection Services (IPS), and President of BNP Paribas Cardif.
At the heart of the Group’s integrated model
The asset management business line is enhancing its offering to long-term savings companies by acquiring expert capabilities in insurance assets through two significant partnerships:
- as part of the agreement with AXA group, a long-term partnership is formed to manage a large portion of AXA insurance and pension assets;
- as part of a management delegation, BNP Paribas Cardif will leverage the capabilities on this new platform for the management a large part of its insurance assets, notably its general fund.
Beyond IPS, the Group’s Asset Management business line will work closely with other business lines within CIB (Corporate and Institutional Banking) and CPBS (Commercial, Personal Banking & Services), which offer an extensive distribution network and one of the most comprehensive client bases in Europe, serving individual, corporate and institutional clients.
In particular, BNP Paribas stands out in the market thanks to its leading position in Europe of providing financial services to corporate and institutional clients (BNP Paribas CIB), wealth management (BNP Paribas Wealth Management), and investment funds management (asset management).
DISCOVER THE BNP PARIBAS GROUP'S INTeGRATED MODELPreparing the next steps together
In concrete terms, AXA IM is now a full member of the Group, held by BNP Paribas Cardif under the brand name “AXA IM part of BNP Paribas Group”.
A proposed merger of the entities of BNP Paribas Asset Management (BNPP AM), BNP Paribas Real Estate Investment Management (BNPP REIM) and AXA Investment Managers (AXA IM), aimed at bringing together all of BNP Paribas' asset management activities within a unified platform held by BNP Paribas Cardif, has been submitted to the staff representative bodies.
Moreover, joint working groups with AXA IM teams are already collaborating to build a shared roadmap. This aspect of the project will also be part of a dialogue with the staff representative bodies when the time comes.
The BNP Paribas Group’s new asset management governance
Effective on 1 July 2025, Sandro Pierri, Chief Executive Officer of BNP Paribas Asset Management, also becomes Chief Executive Officer of AXA IM, and Marco Morelli, current Executive President of AXA IM, becomes President of BNP Paribas Asset Management and of AXA IM.
They will report to Renaud Dumora, Deputy Chief Operating Officer of BNP Paribas Group, Head of Investment & Protection Services, and President of BNP Paribas Cardif.
Sandro Pierri will head up the BNP Paribas Group’s asset management activities and Marco Morelli will chair these same asset management activities.
We are convinced that the combination of BNP Paribas asset management businesses will generate long-term value for our customers, for our teams and for the Group as a whole. We have great confidence in our collective ability to deliver this project, while ensuring continuity for our customers with the highest level of service
Much more than an addition of forces, it’s the creation of a global player, built on shared values, complementary strengths, and a common ambition for sustainable growth. Together, we are positioning ourselves to serve clients worldwide with lasting impact.”
Meet three asset management experts at BNP Paribas
AXA Investment Managers
We actively invest for the long-term so that our clients, people and communities can move forward.
AXA Investment Managers (AXA IM) is a recognised player in the global asset management industry, serving institutional, corporate and individual clients. Its investment offering covers both traditional and alternative asset classes, such as real estate, infrastructures, private equity, private credit, bonds and stocks. AXA IM possesses in-depth capabilities in long-term insurance and pension fund assets, as well as management of private assets. AXA IM offers a broad range of products, including ESG-based strategies that allow clients to reconcile their financial objectives with their ambitions in sustainability. With over 30 years' experience in sustainable investment, AXA IM takes a pragmatic, long-term approach to creating value for clients, employees and the wider economy. Founded in 1994, the company manages around €880 billion in assets and has 2,900 employees in 19 countries.
BNP Paribas Asset Management
The sustainable investor for a changing world
BNP Paribas Real Estate Investment Management
Investing in real estate
BNP Paribas Real Estate Investment Management (REIM) is the BNP Paribas Group’s real-estate management arm. With more than 60 years of expertise, REIM’s mission is to acquire and manage diversified property assets across Europe, including offices, commercial properties, logistics facilities, hotel and healthcare accommodations and establishments. BNP Paribas REIM offers a range of investment solutions tailored to the diversified needs of individual and institutional clients, including insurers, foundations, and other insurance companies. REIM’s team of 320 property experts manage a portfolio of more than 900 buildings in 16 European countries, valued at almost 24 billion euros. This provides BNP Paribas REIM a strong local footprint across the countries in which it operates. Founded in 1963, BNP Paribas REIM has almost 140,000 individual clients and over 230 institutional clients, thanks to its deep roots in each of its target markets.
