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25 years, 25 CEOs: Philippe Marchessaux, CEO, BNP Paribas Investment Partners
13 January 2012
To celebrate its 25th anniversary, Global Investor/ISF interviewed 25 CEOs. Philippe Marchessaux explains how performance has become more important than scale, and why absolute return strategies are only one part of an investment manager’s arsenal
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Philippe Marchessaux
BNP Paribas Investment Partners
My main challenge today is how to win investors’ trust back after 2008. In the retail market, particularly, investors are still reluctant to return. For example we have noticed redemptions in the money market funds on the part of retail investors but strong demand from institutions and corporates, who take advantage of the diversification and the daily liquidity provided.
My second issue is the threat to the level playing field for asset managers depending on whether they are part of an investment bank or an insurer or independent. I’ve no issue with regulation in itself – it helps to define the rules of the game. And there have been some valuable reforms, such as UCITS IV or AIFMD. But all firms need...
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