On December 19, 2019, Groupe BCPE announced an agreement to partner with La Banque Postale, combining their respective asset management operations.
Groupe BCPE and its subsidiary, Natixis Investment Managers (“Natixis”), originally commenced discussions with La Banque Postale (“Banque”) in June 2019 and have now set out the main principles and conditions of a definitive agreement. The combined entity will be jointly owned 55% by Natixis and 45% by Banque’s subsidiary La Banque Postale Asset Management (“BAM”), and managed by Philippe Setbon, the current CEO of Ostrum Asset Management, as CEO. Emmanuelle Mourey, the current Chairman of the Management Board at BAM, will serve as Deputy CEO of the joint entity. The agreement is scheduled to be presented to representatives of the relevant entities in the first quarter of 2020, and the transaction is expected to close during the second half of 2020. Further terms of the deal were not disclosed.
Groupe BCPE is a French banking group and the parent company of Natixis. Natixis is a financial services firm that specializes in corporate and investment banking, asset and wealth management, insurance and payments. It has $1,004.5 billion in assets under management as of September 30, 2019. Ostrum Asset Management is an affiliate of Natixis.
Banque is a French bank headquartered in Paris. It is a subsidiary of French postal service company Le Groupe La Poste. Barclays Bank PLC is acting as sole Financial Advisor to Banque.
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