On December 21, 2024, BNP Paribas announced a significant acquisition agreement for Axa Investment Managers (Axa IM) valued at €5.1 billion, with the deal expected to close by mid-2025.

This announcement follows exclusive negotiations that began on August 1, 2024, marking a strategic shift for both BNP Paribas and Axa.

The acquisition comes after the completion of mandatory information and consultation procedures with employee representative bodies from both companies, ensuring a smooth transition.

As the largest bank in the European Union, BNP Paribas employs over 183,000 people globally, with more than 145,000 based in Europe.

Axa IM aims to leverage its partnership with BNP Paribas to enhance its growth and solidify its position in the global asset management industry, with combined assets under management totaling €1.5 trillion, including €850 billion from Axa IM alone.

Renaud Dumora, President of BNP Paribas Cardif, emphasized that this acquisition represents a significant step towards establishing a long-term partnership with Axa.

Preparations are already underway to integrate Axa IM's employees and clients into BNP Paribas Cardif as part of the acquisition process.

Under the terms of the agreement, BNP Paribas will provide investment management services to Axa, which will refocus on its core insurance activities, particularly in life, savings, and retirement sectors.