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NATIXIS and La Banque Postale combine their rate management and insurance activities

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NATIXIS and La Banque Postale combine their rate management and insurance activities

( – On June 28, 2020, Natixis and La Banque Postale signed the agreement to combine rate and insurance management activities announced in December 2019, marking the creation of a European leader, with more than 415 billion euros of assets under management on behalf of large institutional clients at the end of May 2020. The joint entity will be 55% owned by Natixis (through its subsidiary Natixis Investment Managers) and 45% by LBP (through its subsidiary LBP Asset Management), within the framework of balanced governance.

Philippe Setbon, current CEO of Ostrum AM, will head the future company. Mathieu Cheula, who will become a member of the Executive Board of La Banque Postale AM ​​from September 1, will assume the deputy general management of the future joint entity and will join Ostrum AM as of the closing of the transaction.

The management company explains that it will have a key consolidation role to play on the European market in the coming years and will quickly seek significant growth in volumes. “The optimization of its operational model coupled with the strong commercial prospects offered by this merger, should also allow the strengthening of the profitability of the joint venture”, underline Natixis and La Banque Postale.

The merger is planned for the fourth quarter of 2020, subject to obtaining the required authorizations from the competent regulatory authorities. – LEARN MORE

Finance – Banks

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