BNP Paribas Wealth Management strengthens its positions in Germany
At the end of 2024, BNP Paribas and HSBC signed an agreement to acquire the latter’s private banking activities in Germany. This is a strategic market for BNP Paribas where the Group has been present for more than 75 years. Subject to regulatory approval, BNP Paribas Wealth Management, the leading private bank in the eurozone, will emerge from this transaction as one of the market leaders in Germany, with over €40 billion in assets under management. Germany brings strong growth potential to our private banking activities, particularly among Mittelstand businesses - SMEs and family businesses. The completion of this acquisition is expected in October 2025.
Consorsbank innovates in portfolio management
With its brand-new investment account, Consorsbank offers its clients the opportunity to entrust the management of their asset portfolios to experienced professionals with ease and at very attractive rates. With this innovative product, a minimum investment of €750 is sufficient to access the expertise of around 300 experts from BNP Paribas Wealth Management, previously exclusively dedicated to managing the assets of high-net-worth investors. Clients can choose from five ESG strategies, ranging from defensive to offensive. The investment account combines the best of both worlds: digital fluidity and personalised human support.
Signing of an agreement for the acquisition of AXA Investment Managers
In December 2024, BNP Paribas Cardif signed an agreement with AXA for the full acquisition of AXA Investment Managers (AXA IM), after they entered into exclusive negotiations on 1 August 2024. This signature marks an important step in the acquisition process of AXA IM and the establishment of a long-term strategic partnership for the management of a large part of AXA’s assets. It follows the completion of the information and consultation procedure with the relevant representative social bodies on the strategic issues of the project. The complementary expertise of the asset management teams of BNP Paribas in listed and alternative assets, as well as in responsible investment, will prove valuable to better meet the needs of its clients. The operation is expected to close in mid-2025, subject to the agreement of the competent regulatory authorities.
