Amundi set to finalise acquisition of Pioneer Investments
THE Amundi Group has obtained all the necessary regulatory authorisations and has fulfilled all the conditions precedent required for the acquisition of Pioneer Investments.
Accordingly, Amundi Group is pleased to announce that the acquisition will be finalised on July 3, 2017, which is in line with expectations.
During the work carried out over the past six months, Amundi has reaffirmed the growth strategies of the new group, defined priorities for its business lines and set up the integration plan.
“These preparatory efforts have confirmed the strategic and industrial benefits of the acquisition of Pioneer Investments by Amundi and the resulting potential for value creation.
The synergies enabled by this integration will be in line with what was announced in December of last year.”
“The projections had pointed to 150 million euros in cost synergies and 30 million euros in revenue synergies over a full year, starting upon completion of the integration process, which will take place over the course of the next two years,” said Amundi in a statement.
To capture this potential in growth and productivity, the group will adapt its organisational governance in line with the same principles that have prevailed at Amundi since its inception.
The renewed organisational structure will be supported by the following pillars:
> Two divisions focused on Amundi’s two major client segments:
The retail clients division and an institutional and corporate clients division.
a)The retail clients division offers savings solutions fitting the needs of individual clients through the networks of our preferred partners as well as third-party distributors in Europe, Asia and the Americas. It currently serves over 100 million individual clients around the world and represents more than 450 billion euros in assets under management.
This division will be headed by Fathi Jerfel, assisted by Cinzia Tagliabue.
b) The institutional and corporate clients division develops investment solutions adapted to the various client segments it serves: corporates, insurers, institutional investors, central banks and sovereign wealth funds. It currently manages over 860 billion euros in assets.
This division will be headed by Dominique Carrel-Billiard, assisted by Laurent Bertiau.
> The investment management platforms, which provide the full range of investment solutions dedicated to each client segment. The contribution of Pioneer Investments will enhance asset class coverage and expand the solutions offered by Amundi.
The management platforms will be headed by Pascal Blanqué, Group CIO, assisted by Vincent Mortier, Deputy CIO.
Publicly traded since November 2015, Amundi is the largest European Asset Manager in terms of AUM, with over one trillion euros worldwide. Headquartered in Paris, France, Amundi has seven investment hubs located in the world’s key financial centres, and offers a combination of research depth and market experience that has earned the confidence of its clients.
Amundi is the trusted partner of 100 million retail clients, 1,000 institutional clients and 1,000 distributors in more than 30 countries, and designs innovative, high-performing products and services for these types of clients tailored specifically to their needs and risk profile.