BNP Paribas has appointed Philippe Marchessaux to head BNP Paribas' asset management businesses. He succeeds Gilles Glicenstein as Head of BNP Paribas Investment Partners and CEO of BNP Paribas Asset Management.
Philippe has over 20 years experience working across BNP Paribas' asset management businesses. He was most recently appointed Deputy CEO of BNP Paribas Investment Partners in February 2009 and has been a member of BNP Paribas Investment Partners' executive committee since 2004. Philippe has played a key role in developing the business strategy that Gilles put into place, and has been effectively in charge of the business since April 2009. He now assumes responsibility for a business he knows well and will continue his work on the integration of BNP Paribas Investment Partners with Fortis.
During his career at BNP Paribas Investment Partners, Philippe has been involved in a number of mergers, including that of BNP Gestions and Paribas Asset Management.
Philippe, 46, is a graduate of HEC and the Sorbonne. He joined BNP Paribas in 1987.About BNP Paribas
BNP Paribas (www.bnpparibas.com
) is one of the 6 strongest banks in the world according to Standard & Poor's. With a presence in 85 countries and more than 205,000 employees, 165,200 of which in Europe, BNP Paribas is a global-scale European leader in financial services. It holds key positions in its three activities: Retail banking, Investment Solutions and Corporate & Investment Banking. The Group benefits from its four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.
* Within its peer groupAbout BNP Paribas Investment Partners
BNP Paribas Investment Partners (www.bnpparibas-ip.com
) brings together the full palette of asset management expertise of the BNP Paribas group. Through a unique platform that offers immediate and simplified access to a broad range of specialist Partner companies, BNP Paribas Investment Partners has become a leader among the multi-specialist asset managers. At 31 March 2009, assets under management amounted to €325 billion*, nearly half of which was managed for institutional clients. With 2,600 professionals serving clients in 72 countries, BNP Paribas Investment Partners draws on over half a century of asset management experience and has seen ten years of steady growth through acquisitions and joint-ventures.
* assets under advice included