Crédit Mutuel AM and La Française AM Merge to Form €86bn Manager
3 MAY, 2024
By Jose Luis Palmer from RankiaPro Europe
In a strategic move orchestrated by parent company Crédit Mutuel Alliance Fédérale, Crédit Mutuel Asset Management and La Française Asset Management have joined forces to create a formidable €86 billion asset manager. The merger, effective from May 1, 2024, marks a significant consolidation within the asset management industry, aligning with Crédit Mutuel Alliance Fédérale's 2024-2027 strategic plan.
The newly formed entity, named 'New' Crédit Mutuel Asset Management, operates under a multi-specialist model and boasts €86 billion in assets under management. With a combined workforce of 172 employees based in France and Germany, the company is well-positioned to deliver enhanced services and expertise to its clients.
Since January 2024, Crédit Mutuel Asset Management has functioned as a subsidiary of La Française Group, the asset management holding company of Crédit Mutuel Alliance Fédérale, which ranks as the ninth largest banking group in the eurozone by balance sheet size.
Leading the helm of 'New' Crédit Mutuel AM is Eliana de Abreu, who brings her experience as CEO of Crédit Mutuel AM since January this year. Assisting her is Jean-Louis Delhay, who assumes the role of Chief Investment Officer and Head of Multi-Asset Management. The management team comprises seasoned professionals across various domains, including equities, fixed income, quantitative management, and financial analysis.
This strategic merger underscores Crédit Mutuel Alliance Fédérale's commitment to strengthening its position in the asset management market and expanding its expertise in sustainable finance. By leveraging synergies and pooling resources, 'New' Crédit Mutuel AM aims to enhance customer satisfaction and drive innovation in an evolving market landscape.
The consolidation of Crédit Mutuel AM and La Française AM into 'New' Crédit Mutuel Asset Management heralds a new chapter in their journey, characterized by enhanced capabilities, expanded reach, and a shared commitment to excellence in asset management.
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.
Éric Petitgand, chief executive officer of Crédit Mutuel Alliance Fédérale.
