BNP Paribas plans to integrate AXA Investment Managers with its own platform, creating a powerhouse with €1.5 trillion in assets under management. This merger aims to enhance BNP Paribas’s service offerings to insurers, pension funds, banking networks, and distributors, making it a leading player in long-term asset management across Europe.
BNP Paribas to acquire AXA Investment Managers : Leadership Perspectives
Jean-Laurent Bonnafé, CEO and director of BNP Paribas, stated, “This project would position BNP Paribas as a leading European player in long-term asset management.” He emphasized that the bank would be better equipped to serve its diverse customer base more efficiently post-acquisition.
Thomas Buberl, CEO of AXA, highlighted the benefits of the sale, saying, “By joining forces with BNP Paribas, AXA Investment Managers would become a global asset manager with a wider product offering and a mutual objective to further their leading position in responsible investing.”
Future Plans and Financial Impact
AXA plans to use part of the proceeds from the sale to launch a share buyback program worth approximately €3.8 billion after the deal’s closure. The companies have noted that the proposed acquisition requires signing a share purchase agreement and obtaining regulatory approvals, along with consulting employees’ representative bodies. The transaction is expected to finalize by mid-2025.
Conclusion
The acquisition of AXA Investment Managers by BNP Paribas represents a significant shift in the European asset management landscape. With the completion of this deal, BNP Paribas is poised to become a dominant force in managing insurance and pension fund assets, underscoring its commitment to long-term growth and market leadership.
