PARIS, May 24 (Reuters) - French bank BNP Paribas BNPP.PA detailed on Wednesday a strategy to allow its asset management arm to grow assets by 5 percent annually between now and 2020, and to speed up its development in Germany, China and the United States.
"We are investing in a scalable platform on which to base our future growth globally and achieve sustainable long-term success," Frederic Janbon, chief executive of BNP Paribas Asset Management said in a statement.
It will rebrand BNP Paribas Investment Partners to BNP Paribas Asset Management as of June 1.