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BNP, Fortis merger completed

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The merger of BNP Paribas Investment Partners' Australian operations and Fortis Investment Management Australia has been completed, and the combined entity has adopted the BNP Paribas brand.

The merger of the two businesses in Australia follows the completion of the global merger of the two head companies on 1 April.

In Australia, Robert Harrison continues in his role of BNP Paribas Investment Partners chief executive, overseeing an entity with combined assets under management of $24.2 billion.

"BNP's existing multi-specialist investment platform has been strengthened locally with new capabilities from Fortis Investments, such as Australian equities and global real estate," Harrison said.

"In turn, these products will benefit from having access to BNP Paribas' extensive distribution platform, best practice governance and capital adequacy through the strength of the BNP Paribas balance sheet."

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Arnhem Investment Management, the Australian equities fund manager formerly known as Fortis Investment Partners, has become one of the 25 specialist partners within the global BNP Paribas Investment Partners' network.

BNP Paribas Investment Partners holds a 40 per cent shareholding in the Australian equities fund manager.