La Banque Postale initiates the merger between LBP AM and La Financière de l’Échiquier to create LFDE IM
29 MAY, 2026
By Joanna Piwko from RankiaPro Europe
La Banque Postale has presented the merger project between LBP AM and its 100% subsidiary La Financière de l’Échiquier, with the aim of giving life to LFDE IM, a new European hub for active management, sustainable finance and innovative investment solutions. At the end of the operation, La Banque Postale will retain a 75% stake in the new entity, while Aegon AM will hold the remaining 25%.
A new European multispecialist in managed savings is born
The operation fits into a rapidly changing market context and aims to accelerate the group's growth path, while at the same time strengthening its international presence. The new LFDE IM will present itself as a multispecialist platform capable of offering a wide range of skills, leveraging the historical expertise of the two companies in listed and unlisted markets.
La Financière de l’Échiquier, acquired by LBP AM in 2023 and strengthened by the integration of Tocqueville Finance in 2024, has become a reference operator in high conviction equity management in Europe, with about 26 billion euros of assets under management at the end of April 2026. At the same time, LBP AM has continued its development in France and in Europe in the listed asset classes, including rates, added value credit, quantitative management, wealth solutions and multi-asset, as well as in the private European markets.
According to the data communicated, the merger will lead to the birth of a group with over 72 billion euros of assets under management, 370 employees, of which 130 are investment professionals, and a commercial presence in 12 countries.
Three growth directions: private assets, fixed income and international expansion
The new entity intends to further strengthen its development trajectory by focusing on three strategic priorities: private assets, added value fixed income and international expansion. The group indeed aims to expand its clientele beyond the French market, where it has already consolidated its presence among institutional investors, wholesale channels and wealth advisors.
LFDE IM will offer an extensive range of products and investment solutions designed to combine financial and extra-financial performance. The company will also be able to rely on over 13 years of experience in the private European markets, as well as on a brand, "LFDE", which La Banque Postale considers a distinctive asset for entrepreneurial culture, customer focus, organizational agility and innovation capacity both in product and technology.
According to what is indicated in the note, the new group will be based on the continuity and complementarity of resources and current managerial teams. However, the merger project and the name change of LBP AM remain subject to the information and consultation processes of the staff representation bodies, to the approvals of the corporate bodies and competent shareholders, as well as to the necessary regulatory and administrative authorizations. The completion of the operation is expected by the end of 2026, provided that all the required clearances are obtained.
In an increasingly concentrated sector, characterized by the multiplication of offers and the rapid evolution of investor expectations, this merger project is fully in line with the development strategy of La Banque Postale, a subsidiary of the La Poste group. It will indeed constitute a lever for the consolidation and acceleration of its wealth management activity.
Stéphane Dedeyan, Chairman of the Board of Directors of La Banque Postale
