The global co-heads of real estate at AXA IM Alts are to oversee the investment management business of BNP Paribas Real Estate ahead of the planned merger between both parent companies.
On an interim basis, Timothée Rauly and John O’Driscoll will assume the responsibilities of the global head of investment management, a role currently held by Jean-Maxime Jouis.
Jouis will become deputy CEO of BNP Paribas Real Estate, with responsibility for supervising the advisory and property management business lines. He will report to Thierry Laroue-Pont, CEO of BNP Paribas Real Estate.
BNP Paribas Real Estate said the changes were part of the legal merger between BNP Paribas Asset Management, AXA Investment Managers and BNP Paribas REIM, and would “continue until the definition of the target common operating model”.
The moves come three months after the announcement of a “transitional leadership”, which included Isabelle Scemama, global head of AXA Alts IM, overseeing all alternative assets ahead of the legal merger expected by the end of the year.
Last year, BNP Paribas announced its intention to acquire AXA’s €844bn investment management business. At the time, IPE Real Assets reported that the merger could see the creation of two enlarged real estate and infrastructure fund managers with assets under management (AUM) of €108bn and €19.7bn, respectively.
Meanwhile, Brice de Germay, head of capital markets, will be appointed deputy CEO of BNP Paribas Real Estate Advisory France, reporting to CEO Laurent Boucher. Eric Siesse, deputy CEO in charge of the office leasing division for the Paris region, will assist De Germay.
In the UK, Mark England, previously chief operating officer, has been appointed CEO of BNP Paribas Real Estate UK. He succeeds Etienne Prongue, who becomes head of the international investment group at BNP Paribas Real Estate.
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