BNP Paribas Asset Management, the fund management subsidiary of the Paris-headquartered bank, has merged staff from across three of its investment subsidiaries to create a new €110bn investment group – part of a drive to streamline its asset management operations.

The fund manager, which oversees €571bn globally across its various entities, has called the new group Multi-Asset, Quantitative and Solutions. It comprises 130 people from its Theam, CamGestion and Multi-Asset Solutions divisions.