Announced
Completed
Financials
Tags
financial services
Majority
wealth management
Joint Venture
Cross Border
Completed
asset management
Asset Managers and Custodians
Private
India
Single Bidder
Friendly
Synopsis
Bank of Baroda, an Indian nationalized banking and financial services company, and BNP Paribas, a financial services group in Europe with global reach, formed a joint venture. Financial terms were not disclosed. "This is thecoming together of two financial powerhouses who complement each other with the strengths that theybring to the table, creating a more potent combined entity. BNP Paribas Asset Management is a leadingglobal asset manager, backed by BNP Paribas, and the JV will leverage their global experience, expertiseand processes to build a stronger asset management platform offering high-quality investment solutionsat scale. We have a tremendous opportunity before us in the Indian asset management space andI amexcited about the journey ahead," Sanjiv Chadha, Bank of Baroda Managing Director and CEO.
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