BNP Paribas in Strategic Reorganization to Create a European Asset Management Leader

Cleary Gottlieb advised BNP Paribas in connection with the integration of its asset management activities, following the acquisition of AXA Investment Managers (AXA IM) on July 1, 2025.

Completion of Main Legal Mergers and Creation of a Single Asset Management Entity, Owned by BNP Paribas Cardif

On December 31, 2025, AXA IM, BNP Paribas Real Estate Investment Management (BNPP REIM), and BNP Paribas Asset Management (BNPP AM) merged their main legal entities under a unified structure owned by BNP Paribas Cardif. They now operate under a single brand name—BNP Paribas Asset Management.

This step marks the creation of a single asset management player, combining complementary investment capabilities, global reach, and long-standing expertise across all asset classes, the different client segments, and geographies.

Creation of a Leading European Asset Manager With a Global Reach

This merger places BNPP AM among the Top 3 asset managers in Europe with over €1.6 trillion in assets under management (AUM) on behalf of institutional, corporate, retail, and wealth clients worldwide.

The Cleary corporate team included partners Pierre-Yves Chabert and Sophie de Beer, and associates Blanche d’Aramon, Paul Roudié, and Pierre Fusz. Partner Sophie de Beer and associates Camille Kernevès, Eléonore Azaïs, Johanna Jumelet, Ferdinand Toulza, and Solène Roizard advised on French regulatory matters. Partner Dan Tierney and associates Axel Nordlöf and Robert Gleeson advised on UK corporate matters. Partner Ferdisha Snagg and associates George Bumpus, Noah D’Aeth, and Yasmin Frischermeier advised on UK regulatory matters. Counsel Melissa Reid advised on UK employment matters. Counsel Michael Brems and associate Sebastian Losch advised on German corporate and regulatory matters. Partner Laurent Legein and associate Luca Engström advised on Belgian regulatory matters. Partner Matteo Montanaro and counsel Paolo Rainelli advised on Italian corporate matters. Counsel Laura Prosperetti, avvocato Ludovico Scassellati, and associate Alberta Giannotti advised on Italian regulatory matters. Partner Vania Petrella and counsel Gianluca Russo advised on Italian tax matters. Partners Derek Bush, Amber Phillips, Lauren Semrad, and associates Andrew Lindsay and Ben Rosenblum advised on U.S. regulatory matters. Partner Chris Macbeth and associates Rawad Abou Jaoude and Omar Almansoori advised on UAE regulatory matters. Partner Freeman Chan, senior attorney Vivien Ho, and associate Eva Hong advised on Hong Kong regulatory matters.