BNP Paribas completes Fortis integration

BNP Paribas Investment Partners has integrated Fortis Investments to create the eleventh largest asset manager in the world.

The combined business, which has assets under management of €530bn, is now the fifth largest asset manager in Europe and will trade as BNP Paribas Investment Partners (BNPP IP). Paribas says the merger strengthens its multi-boutique model and extends its emerging market presence and European offering. "We are delighted the closing of the transaction with Fortis Investments is now complete and this is an important moment for our company," CEO Philippe Marchessaux says. "Now that we have joined forces, BNP Paribas Investment Partners is able to provide its clients with one of the mo...