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BNPP AM follows up France’s PACTE Law with DC strategy

RetirementBNP Paribas Asset Management has appointed Arnaud Schwebel to head a new retirement solutions department, which has been set up to support its defined contribution (DC) business.

The department will develop opportunities connected to the growth of DC pension savings in Europe using a multi-channel approach with banks, brokers, corporates, insurers and direct distribution.

The French fund manager says the PACTE Law in France and the Pan-European Pension Product regulation will open up new opportunities as pension savings become more attractive in the future.

Chief executive Frédéric Janbon said: “The development of pension savings is a structural trend in France and Europe. One of the major challenges will be to encourage individuals to redirect their savings towards long-term savings – beneficial both for savers and for financing the economy – specifically dedicated to retirement.”

Schwebel, as well as heading the retirement solutions department, will also be responsible for operational supervision of BNP Paribas Epargne & Retraite Entreprises alongside BNP Paribas Cardif.

BNP Paribas Epargne & Retraite Entreprises – a corporate partner within the French employee savings and collective retirement marketplace - will form an important part of the retirement solutions department, according to the firm.

Prior to this role, Schwebel was head of strategy for corporate development and public affairs. He is a member of BNPP AM’s executive committee, and also director of Gambit, a European provider of investment advisory digital solutions.

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