La Banque Postale is planning to merge its two asset management companies, LBP AM and La Financière de l’Échiquier to create LFDE IM as it focuses on international development.
La Banque Postale is a majority shareholder of LBP AM while La Financière de l’Échiquier is a wholly owned subsidiary. Following the merger, LFDE IM will remain 75% owned by La Banque Postale and 25% owned by Aegon AM.
The new entity will continue to support institutional, wholesale and IFA clients and will leverage its expertise by focusing on three main growth drivers: private assets, value-added fixed income, and international client acquisition.
Stéphane Dedeyan, chairman of the executive board of La Banque Postale, said: “In an increasingly consolidated industry, marked by a proliferation of offerings and rapidly evolving investor expectations, this merger project is fully aligned with the development strategy of La Banque Postale, a subsidiary of Group La Poste. It will serve as a powerful lever for consolidation and acceleration of its asset management business.”
Emmanuelle Mourey, chairwoman of the executive board of LBP AM, added the merger will allow the group to bring together its listed and private markets expertise within a unified organisation as well as accelerating its international expansion.
“This evolution will build on the path initiated in 2023, driven by a continued focus on development, innovation, performance and service delivered to investors,” she said.
Olivier de Berranger, CEO of La Financière de l’Échiquier, added: “With this project, we aim to further enhance the support and service we provide to our clients, and to accelerate the acquisition of new investors, particularly internationally.
“By leveraging the strength of the LFDE brand, the combined expertise of La Financière de l’Échiquier and LBP AM, and the complementarity of our teams, the new entity will benefit from enhanced capabilities in France and across Europe, delivering a high level of service and optimal responsiveness.”
