BNP Paribas centralises multi-management
EUROPE - BNP Paribas says it has centralised its multi-management teams in one independent investment company called Cortal Consors Fund Management.
"The new structure benefits from the distribution capacities of BNP Paribas Asset Management for B-to-B and Cortal Consors for B-to-C," the bank said in a statement.
It added that the new firm offers: analysis of external managers; fund advisory, selection and monitoring; investment management; management of French-domiciled funds and management of funds of funds and funds of managers. The firm has 20 specialists, covering all asset classes.
"With this new organisation, CFM aims to accelerate its European development and double its assets within five years," it added.
Cortal Consors has operations in six European countries: Germany, France, Spain, Belgium, Luxemburg, and Italy. It has more than 12 billion euros in discretionary and advisory portfolios.