BNP Paribas Cardif has completed the acquisition of AXA Investment Managers (AXA IM) and entered a long-term partnership with the AXA Group to manage a large part of its assets.

First announced late last year, the deal is expected to allow the BNP Paribas Group to create a European asset management platform with over €1.5trn in assets.

This is expected to support its work to position BNP Paribas Group as a leader in long-term savings management for insurers and pension funds with around €850bn in assets.

The operation is also part of the BNP’s core mission to support the economy by mobilising savings to finance future-oriented projects in the best interests of its clients.

The platform combines the expertise of AXA IM, BNP Paribas Asset Management and BNP Paribas REIM, enhancing their offerings in both traditional and alternative assets.

It also aims to expand its global distribution network, enhance innovation capabilities, and provide a more comprehensive responsible investment offering.

Additionally, it will benefit from AXA IM Alts' market position and expertise in private assets as well as AXA IM's expertise in long-term asset management for insurance and retirement.

Meanwhile, BNP Paribas Cardif will leverage the capabilities of this platform for the management of a large part of its assets, notably its general funds.

BNP said the formation of the platform marks a “major milestone” in the development and growth journey of the investment & protection services division.

The platform will also fully benefit from BNP Paribas' integrated model, in close collaboration with the commercial, personal banking & services and corporate & institutional banking businesses, particularly within the framework of the "originate to distribute" approach.

BNP Paribas director and chief executive officer, Jean-Laurent Bonnafé, said the acquisition is an “important moment” for the entire BNP Paribas Group and it is “delighted” to welcome the AXA IM teams.

“I have every confidence in the ability of the management teams of our asset management activities to grow the business and create value for our clients and employees," Bonnafé said.

Joint working groups with AXA IM teams are already in place to reflect on and develop a common roadmap, particularly regarding offerings and services and will be submitted to the appropriate employee representative bodies.

The project to merge the legal entities of AXA IM, BNP Paribas AM and BNP Paribas REIM is currently the subject of consultation with employee representative bodies.

BNP Paribas AM CEO, Sandro Pierri, will lead the BNP Paribas Group’s asset management activities and AXA IM current executive chairman, Marco Morelli, will chair the BNP Paribas Group’s asset management activities.

Updates on the acquisition's progress will be shared with the release of the 2025 third-quarter results, followed by a deeper discussion in the first quarter of 2026.

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