Key facts
- BNP Paribas Asset Management announced leadership changes following the acquisition of AXA Investment Managers.
- Isabelle Scemama will lead combined alternatives investment capabilities, including real estate, infrastructure, private debt, and private equity.
- Rob Gambi will lead combined liquid investment capabilities, encompassing fixed income and ETFs.
- The combined alternatives platform has over €300 billion in assets under management.
- The combined liquid strategies platform has over €1,000 billion in assets under management.
- Sandro Pierri, CEO of both AXA IM and BNPP AM, stated the appointments are to guide integration.
BNP Paribas Asset Management (BNPP AM) has announced transitional leadership appointments following the completion of its acquisition of AXA Investment Managers (AXA IM) on July 1, 2025. The move is in preparation for the planned legal merger of BNPP AM, AXA IM, and BNP Paribas Real Estate Investment Management (BNPP REIM) by the end of the year.
Isabelle Scemama has been appointed to lead the combined alternatives capabilities, which will integrate AXA IM Alts, AXA IM Prime, BNPP REIM, and BNPP AM’s Private Assets. This new structure brings together over €300 billion in assets under management across real estate, infrastructure, private debt, alternative credit, and private equity, aiming to establish the largest alternatives investment management platform in Europe. Scemama will continue in her current role as Global Head of AXA IM Alts.
Rob Gambi has been appointed to lead the combined liquid investment capabilities, merging AXA IM Core and BNPP AM. This combined structure represents over €1,000 billion in assets under management, including approximately €700 billion in active fixed income and over €40 billion in ETFs. Gambi will continue as Global Head of Investments at BNPP AM.
Both Scemama and Gambi will report to Sandro Pierri, who serves as CEO of both AXA IM and BNPP AM. Pierri stated that these appointments are designed to guide the investment platforms through the integration period, expressing confidence in their leadership to ensure continuity and drive value for clients.