Taking up the reins of one of Europe’s biggest asset managers is a tough enough challenge, but Philippe Marchessaux, newly installed head of BNP Paribas Investment Partners and chief executive of BNP Paribas Asset Management, also faces the task of integrating recently acquired Fortis Investments into the business.

Mr Marchessaux, who has notched up a 20-year career in asset management at BNP Paribas group, started the job in July after his predecessor Gilles Glicenstein passed away earlier this year. He moves up from a short stint as deputy chief executive of BNPP IP and has played a key role in developing the business strategy that his former boss put into place, and has effectively been in charge of the business since April.