As part of the deal, which represents a major consolidation in European asset management, BNP Paribas has also entered into a long-term partnership with the Axa Group to manage a substantial portion of Axa IM’s assets.

Originally announced on 1 August 2024, the transaction positions BNP Paribas as one of Europe’s largest asset managers, with more than €1.5tn in assets under management.

Read more: BNP and Axa’s strengths, weaknesses and overlaps analysed

The group aims to become the top provider of long-term savings solutions for insurers and pension funds, managing around €850bn in that segment alone. It also targets leadership in the private asset fund space and aims to strengthen its presence in the European ETF market.

The newly combined platform will integrate Axa IM, BNP Paribas Asset Management, and BNP Paribas Real Estate Investment Management (REIM). The group plans to offer traditional and alternative investment solutions, supported by an expanded global distribution network, strong ESG credentials, and enhanced innovation capacity.

It is hoped Axa IM’s expertise in private assets and long-term investment for insurance and pensions will be central to the platform’s strategy. BNP Paribas Cardif, the firm’s insurance arm, will use the new platform to manage a large share of its assets, including its general funds.

Jean-Laurent Bonnafé, CEO of BNP Paribas, said:

“We are delighted to welcome the Axa IM teams. Their recognised and complementary expertise will help us build a European industrial champion to better serve our clients. I am confident in the ability of our management teams to grow this business and create value for our clients and employees.”

Joint working groups from both organisations have already begun defining a shared roadmap, focusing on integrated offerings and services. Consultations are ongoing with employee representative bodies regarding the legal merger of Axa IM, BNP Paribas AM, and BNP Paribas REIM under BNP Paribas Cardif.

Sandro Pierri, CEO of BNP Paribas AM, will lead the group’s overall asset management operations, while Marco Morelli, executive chairman of Axa IM, will chair the new platform.

BNP Paribas will provide a further update on the deal’s integration and strategic impact in its third-quarter 2025 earnings release, with a more detailed ‘deep dive’ planned for Q1 2026.

The group’s share price began the day at €76.28, having been €61.46 when the deal was announced 11 months ago.