Axa Investment Managers (Axa IM) and BNP Paribas Asset Management (BNPP AM) have made two leadership appointments following the completion of BNP Paribas Cardif’s acquisition of AXA IM on July 1, 2025.
The appointments come ahead of the planned legal merger of Axa IM, BNPP AM and BNNP Paribas Real Estate Investment Management (BNPP REIM, expected to complete by year-end.
Isabelle Scemama has been appointed to lead the combined alternatives investment business, overseeing Axa IM Alternatives, AXA IM Prime, BNNP Paribas Real Estate Investment Management (BNPP REIM), and BNPP AM’s private assets division. Scemama will retain her role as global head of Axa IM Alts. With over 35 years in the alternatives space, Scemama has played a key role in shaping Axa IM’s private markets business. Since joining in 2001, she’s held several senior roles, becoming CEO of Axa IM Real Assets in 2017 and global head of Axa IM Alts in 2020.
The merged platform brings together more than €300 billion in assets under management, spanning real estate, infrastructure, private debt and private equity.
BNP Paribas buys HSBC’s German custody business
Rob Gambi will head up the combined liquid investment business, which includes AXA IM Core and BNPP AM’s existing strategies. Gambi, who continues as global head of investments at BNPP AM, will oversee a platform managing over €1 trillion in liquid assets, including nearly €700 billion in active fixed income, more than €40 billion in ETFs, and active thematic strategy offerings. Gambi brings more than four decades of investment experience across asset classes. He joined BNPP AM in 2019, following senior roles at Henderson and UBS.
Both Scemama and Gambi will report to Sandro Pierri, CEO of Axa IM and BNPP AM. Pierri commented: “These appointments are intended to guide the investment platforms through the period of integration. I have complete confidence in Isabelle and Rob’s exceptional leadership abilities to guide our teams through this transition. Their deep expertise and proven track records will be instrumental in ensuring continuity and driving us forward, as we remain steadfast in our commitment to delivering unparalleled value to our clients.”
