Natixis and La Banque Postale to Form a Larger European AM Firm
Posted on 06/29/2020
Natixis S.A. and La Banque Postale signed a deal on June 28, 2020 to merge their fixed-income and insurance-related asset management businesses, as announced in December 2019, creating a European asset manager empire with over €415 billion in assets under management for large institutional clients. The combination of the fixed-income and insurance-related asset management businesses of Ostrum Asset Management and La Banque Postale Asset Management within a joint entity is expected to be completed in the fourth quarter of 2020, subject to obtaining required regulatory approvals.
Governance Structure
Natixis (via its subsidiary Natixis Investment Managers) and La Banque Postale (via its subsidiary La Banque Postale Asset Management) will own 55% and 45% respectively of the joint entity, as part of a balanced governance structure.
According to the press release, “Philippe Setbon, Chief Executive Officer of Ostrum Asset Management, will head the future entity. Mathieu Cheula, who will join La Banque Postale AM’s management board from September 1st this year, will be Deputy CEO of the future joint entity and will join Ostrum AM upon the closing of the transaction.
Alongside Philippe Setbon and Mathieu Cheula, the entity’s executive committee will be comprised of asset management professionals drawn from both Ostrum AM and LBP AM, namely:
Ibrahima Kobar, CIO
Guillaume Abel, Head of Business Development
Valérie Derambure, Head of Finance, Strategy and Transformation
Julien Raimbault, Head of Operations & IT/Technologies
Emmanuelle Portelle, Head of Compliance and Internal Control
Rémi Ardaillou, Head of Risk
Sylvie Soulère Guidat, Head of Human Resources
It is planned to combine the teams of the two entities within Ostrum Asset Management by the fourth quarter of 2020.”
La Banque Postale is a French bank that was created on January 1, 2006 as a subsidiary of La Poste, France’s national postal service.
Keywords: Natixis SA.