As part of the plan, the bank will develop “new areas of expertise”, in particular in loans and collateralised loan obligations, and aim to “accelerate” the development of the European equities offering.
It says it will also launch solutions which will be adapted to the needs of insurers and pension funds.
Although the plan targets mainly the institutional segment, in Europe the asset management division hopes to create one of the three biggest distribution platforms for private clients through partnerships with banking or distribution networks.
The plan also covers the Asia Pacific region and emerging markets, where the bank plans to increase the volume of assets under management in certain growth markets and increase cross-selling worldwide.
The bank says the asset management division will “consolidate” positions in key markets – China, Brazil, South Korea and Indonesia – and forge local partnerships to access retail clients.
In Hong Kong, BNP Paribas has an asset management joint venture with HFT and in Korea with Shinhan.
The banking group is in the process of producing a 2014-2016 business plan and says comprehensive details will be available in early 2014.
©2013 funds europe