The integration of Fortis Investments will provide the asset management arm of BNP Paribas with a new dimension. As a result of the integration, BNPP IP will have EUR530bn in assets under management and advice (as at 31 December 2009).
BNPP IP’s existing multi-specialist investment platform will be complemented and strengthened with new capabilities from Fortis Investments. BNPP IP will now have 60 investment centres, each responsible for the management of a specific asset class or type of product, and some 1200 investment professionals.
The integration will also strengthen BNPP IP’s multi-specialist model, which has been used in several range of market conditions. Over the years BNPP IP has adopted a multi-boutique model that combines the advantages of a large, top-tier global asset manager with those of our boutique–like partners.
BNPP IP has also expanded its geographic presence, expanding its presence in Europe, with strong positions in Belgium, Luxembourg and the Netherlands to complement existing footholds in the French and Italian markets.
Reportedly, BNPP IP’s newly combined footprint makes it a major Asia-Pacific player. It has $56.3bn in assets under management in the region. Stewart Edgar, head of BNP Paribas Investment Partners in Asia, said that the company plans to double its profitability in Asia over the next three years.
Philippe Marchessaux, CEO of BNPP IP, said: “Now that we have joined forces, BNP Paribas IP is able to provide its clients with one of the most comprehensive ranges of investment solutions and services in the market.”
