- Business is part of BNP's `growth strategy,' CEO Bonnafe says
- Janbon headed bank's fixed-income globally until end 2014
BNP Paribas SA named Frederic Janbon to head up asset management, returning the former chief of fixed-income operations to a leadership role after a stint as special adviser.
Janbon assumed his new role Tuesday, BNP said in a statement. He replaces Philippe Marchessaux, who ran BNP Paribas Investment Partners for six years, overseeing the integration of ABN Amro and Fortis fund-management teams.
Janbon led BNP’s fixed-income global operations for almost a decade until the end of 2014. In recent months, he has served as a special adviser to Chief Executive Officer Jean-Laurent Bonnafe.
“This business is very much part of our growth strategy,” Bonnafe said in the statement. Asset management is one of the activities in which BNP Paribas is “able to achieve high performance.”
BNP Paribas had 387 billion euros ($439 billion) of assets under management at the end of June, France’s largest bank has said. Amundi Group, the biggest asset manager in Europe, is planning its public initial offering in Paris.