Philippe Marchessaux, Chairman & CEO of BNP Paribas Investment Partners
A life at BNP Paribas.
Despite the fact that he was not fast-tracked via the Inspectorate General and even though the whole of his career at BNP Paribas has been devoted to asset management, Philippe Marchessaux, aged 47, is a pillar of the BNP Paribas group. He now heads up BNP Paribas Investment Partners (IP), after having spent the whole of his career with the firm since 1987, when he joined BNP Gestions as a fixed income manager. Since then, he has remained loyal to both his area of expertise, and his employer. "I realised very quickly that asset management was a business of specialists, which requires total commitment, he points out. I was fortunate enough to participate in the transformation of what was at the time a bank department into a line of business in its own right."
Management, sales, marketing: over the years he has gained experience across all the asset management company’s business activities. He was appointed Deputy CEO in 2005, then CEO in summer 2009 after the death of his predecessor Gilles Glicenstein. Philippe Marchessaux, an HEC graduate and father of three children, has a very busy schedule in 2010: the integration of Fortis Investments, which is currently being finalised, after the legal merger in April. Fortis has contributed 160 billion euros and 2,200 employees, making BNP Paribas IP the fifth largest European asset manager with 540 billion euros of assets under management (at the end of 2009). "The various subsidiaries throughout the word are currently being merged and the process will be completed by the summer, explains Philippe Marchessaux. At the same time, we are harmonising our product ranges and this process should be completed within the next nine to twelve months." With its strong focus on Asia, Fortis Investments has enlarged the scope of BNP Paribas IP’s activities, based on a multi-boutique strategy. This French national, who was born in Aix-en-Provence, is therefore now at the helm of a very international asset management company. "I have always been based in France, but my activity very quickly took on a strong international dimension. I participated in the international development of BNP Paribas IP. In particular, in 2005 I was given responsibility for the Boston-based multi-management subsidiary FundQuest, which has moreover served as an observation post for the asset management market in the United States and the world", explains this philosophy graduate, who has worked notably on metaphysics and political philosophy. Who said bankers were only interested in figures?