BNP Paribas Unveils Broad Revamp Of Asset Management Units

May 24 2017 | 9:06pm ET

Amid news that it has agreed to pay $350 million to settle currency-rigging allegations from New York’s Department of Financial Services, Paris-based BNP Paribas has unveiled a broad restructuring that includes rebranding its asset management unit and combining its passive investment and multi-asset divisions with its boutique asset manager affiliate CamGestion.

The company will change BNP Paribas Investment Partners, often referred to as BNPIP, into BNP Paribas Asset Management on June 1, according to an article in Citywire, and simplify its product offerings. As part of the move, it will also mesh its passive and index investing arm THEAM, its multi-asset solutions unit, and CamGestion into a new structure under the leadership of THEAM CEO Denis Panel.

The restructuring comes as BNP Paribas sets ambitious growth plans that envision a 5% growth in AUM by 2020 and geographic expansion into the U.S., China and Germany. The new business combination will produce a business with significant heft in asset management, and combine its passive, quantitative and fundamental investment management strategies under one roof while also 

In addition, the move is partly in response to the industry-wide trend towards lower-cost passive investment products and high-cost, actively managed offerings like hedge funds. 

BNP Paribas Asset Management is the investment management arm of BNP Paribas, one of the world’s major financial institutions. Managing and advising €580 billion in assets as at 31 March 2017, BNP Paribas Asset Management offers a range of active, passive and quantitative investment solutions covering a broad spectrum of asset classes and regions.

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