Following the announcement made on 21 January 2020, Amundi has received all necessary regulatory approvals, and has today finalised the acquisition of 100% of Sabadell Asset Management
Completion of Sabadell AM acquisition by Amundi. (Credit: Tumisu from Pixabay.)
The 10-year strategic partnership for the distribution of Amundi products across Banco Sabadell’s networks in Spain is starting successfully, while the respective teams have already agreed the commercial strategy and priorities.
The integration and cooperation workflows launched between Banco Sabadell and Amundi since January confirm the partnership’s strong potential, as illustrated by the fact that the first products managed by Amundi are already being promoted within the Banco Sabadell retail network.
Sabadell AM has demonstrated its resilience during the pandemic, with assets under management of €21bn as at the end of May 2020, almost stable compared to end 2019.
This transaction and the partnership with Banco Sabadell will allow Amundi to significantly reinforce its position in Spain2, a major market in Europe for retail savings, and to consolidate its European leadership while deploying its unique business model aimed at serving retail networks.
Yves Perrier, CEO of Amundi, commented: “We are pleased to announce the finalisation of the acquisition of Sabadell Asset Management, and the successful start of the strategic partnership with Banco Sabadell. We are convinced that this new growth driver offers a solid potential for development. This partnership is in line with Amundi’s strategy in Europe to deliver its capabilities and resources to serve customers through retail networks.”
Source: Company Press Release