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Article: Market monitor: Wealth management trends - BNP Paribas keeps eyes on the ball.
- Article from:
- Professional Wealth Management
- Article date:
- November 1, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Yuri Bender
Underperforming funds, duplicate ranges and products too small to compete with rivals are being scrapped in the ongoing merger between the asset management operations of leading French bank BNP Paribas and troubled Belgian institution Fortis. The assets of Fortis Investment Management (Fim) have added almost EU160bn to the EU340bn previously managed by BNP Paribas Investment Partners.
But it is through accelerating product distribution rather than improving investment management operations that fund bosses hope to profit most.
Joint initiatives between the two sides of the company are tackling product areas with greatest ...