Crédit Mutuel Asset Management and La Française Asset Management are merging
Crédit Mutuel Asset Management and La Française Asset Management are merging
As part of the Ensemble Performant Solidaire 2024-2027 strategic plan, Crédit Mutuel Alliance Fédérale intends to strengthen its position in the asset management market by grouping its asset management companies under a multi-specialist model. This new organisation will bring together all the know-how of the mutual group, which is committed to innovation and customer satisfaction, to fast-track its growth.
In this regard, La Française Asset Management merges with Crédit Mutuel Asset Management1, effective 1 May 2024. The newly formed asset management company, 'New' Crédit Mutuel Asset Management, now manages €86 billion in assets2 and has 172 employees based in France and Germany. It is becoming a major player in the French asset management landscape.
Since January 2024, Crédit Mutuel Asset Management has been a subsidiary of La Française Group3, the asset management holding company of Crédit Mutuel Alliance Fédérale, the ninth largest banking group in the eurozone by balance sheet size.
This decision marks a major step forward in Crédit Mutuel Alliance Fédérale's ambitions. “New” Crédit Mutuel Asset Management is expanding its range of investment and savings services and solutions for all types of customers, thus opening up new avenues for growth and innovation. As a result of this merger, the management company has positioned itself as a major player on the market, offering diversified products and services, combining financial performance as well as social and environmental responsibility.
The organisation draws on the complementary specialisations and expertise of each entity to foster continuity in fund management strategies. Eliana de Abreu, Chief Executive Officer of 'New' Crédit Mutuel Asset Management, draws on the expertise of Jean-Louis Delhay, CIO and Head of Multi-Asset Management, as well as an experienced team of management directors, consisting of Christophe Besson and Caroline Lamy for equities, Paul Gurzal and Julien Maio for fixed income, Paul Gurzal for quantitative management, Marie Lassegnore for financial and extra-financial analysis, and Mickael Bonomo for support functions (middle office, data management, reporting, etc.).
'This merger is one of the milestones in the development of Crédit Mutuel Alliance Fédérale's Asset Management division. Under the leadership of Eliana de Abreu, our teams are already fully committed to delivering quality products and services to all our customers.' declares Guillaume Cadiou, chairman of La Française Group.
'This union of the two asset management companies allows us to pool our expertise and offer our clients more comprehensive and innovative solutions. This choice demonstrates Crédit Mutuel Alliance Fédérale’s ambition to develop its asset management business around its holding company La Française Group.' adds Éric Charpentier, Chief Executive Officer of Banque Fédérative du Crédit Mutuel and CIC.
'With this strategic operation, Crédit Mutuel Alliance Fédérale intends to strengthen its position in the asset management market thanks to this new structure. It combines all our know-how and is fully focused on customer satisfaction and strengthening its expertise, particularly in sustainable finance.' adds Éric Petitgand, Chief Executive Officer of Crédit Mutuel Alliance Fédérale.
1 Crédit Mutuel Asset Management will absorb La Française Asset Management effective 1 May 2024.
2 Data valid as at 31/12/2023
3 For 99.99% of the share capital, since 1 January 2024