Sandro Pierri

CEO of AXA Investment Managers (also CEO of BNP Paribas Asset Management), effective July 1, 2025, Axa Investment Managers Axa Im

Search every verified Sandro Pierri interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Sandro Pierri, CEO of BNP Paribas Asset Management and president of EFAMA, spoke at the Investment Management Forum 2023 about structural changes in the economy and asset management industry. He described what he called a "multiple transition" involving ecological, technological, demographic, and geopolitical shifts occurring simultaneously, which he said was unprecedented in his career. Pierri stated that equity returns are likely to be subdued in 2024, which he said would put pressure on both costs and revenues for asset managers. He also noted that only one-third of European household assets are professionally managed and argued that increasing retail participation in capital markets is necessary to fund Europe's sustainability and digital transitions. Pierri discussed regulatory priorities for the European asset management industry, calling for predictability and stability in the regulatory framework, as well as coherence between different pieces of regulation. He cited the example of the Retail Investment Strategy (RIS), which he said favors passive instruments, and questioned how that reconciles with supporting the green transition. Pierri also highlighted structural differences between U.S. and European asset management, noting that the U.S. benefits from a single large home market and tax incentives for long-term savings like 401(k) plans, which he said are still missing in Europe. He expressed confidence that European asset managers can compete with larger players due to strong human capital.