BNP Paribas Completes Acquisition of Axa’s Asset Management Unit

BNP Paribas SA has finalized its purchase of Axa SA’s investment unit, creating one of Europe’s largest asset managers.

The newly formed business will have more than €1.5 trillion ($1.8 trillion) in assets under management, according to a release from the French bank on Tuesday. Return on invested capital is expected to exceed 14% in 2028 and 20% a year later.