News of the leadership structure for BNP Paribas and Axa Investment Management’s massive merger is trickling in, with the latest announcement seeing responsibilities divided up for alternatives and liquid investments.
The merger, completed at the start of July, resulted in a €1.5 trillion assets under management asset management business.
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AXA IM stated that there have been no portfolio manager departures from its team following the acquisition.
Isabelle Scemama will lead the company’s €300 billion AUM alternatives divisions, expanding her role from global head of AXA IM Alts to cover AXA IM Prime, BNP Paribas REIM and BNP Paribas Asset Management (BNPP AM) Private Assets.
Rob Gambi, global head of investments at BNPP AM, will also lead liquid investment capabilities across both AXA IM Core and BNPP AM. Liquid strategies at the new firm now hold more than €1,000 billion AUM, around €700 billion of which sits in active fixed income, including money market funds. A further €40 billion is held in exchange-traded funds.
Scemama has been with AXA IM for more than two decades, having held her current role for over five years. Prior to this, she was CEO of real assets at the firm and head of corporate finance for real assets at AXA’s real estate business.
Six of Gambi’s 40 years in the industry have been spent with BNPP AM. Before this, he was chief investment officer at Henderson Global Advisors and global head of fixed income at UBS Global Asset Management.
