The objective is to gather all the third-party asset management structures within a multi-boutique business model and to build a client-centric organization. The new organization would draw on the strengths of each structure and require the pooling of support functions around a single framework and a common holding company.
Distribution would be carried out by two distinct structures with distribution support teams covering all the products of the Group's asset management companies1:
• Crédit Mutuel Investment Managers would focus on internal clients of the group's network banks as well as corporate clients and employment/pension savings plans,
• whereas La Française Finance Services would focus on external clients in France, namely institutional investors, and international clients.
Crédit Mutuel Alliance Fédérale intends to continue to rely on the reputation of the “La Française” brand which, in this context, would evolve to further reflect its affiliation with the Crédit Mutuel group.
In terms of asset management expertise, the objective is to strive for the greater specialisation of each asset management structure by drawing on the predominant and complementary expertise of each. This business-development oriented approach should allow the Group to maximise cross-selling, strengthen visibility and optimize the resources allocated to each expertise.
This specialisation would include a responsible and sustainable investment strategy common to all asset management companies. This strategy, which is the Group’s priority in terms of investment and development, would be in perfect harmony with the values of Crédit Mutuel Alliance Fédérale, the first banking group to have opted for the status of “benefit corporation”.
The objective is thus to become a major player in the French Asset Management landscape: the 6th largest French player with €160 billion under management, locations across Europe, a presence in Asia and a wide range of expertise covering listed assets, real assets and alternative management.
1 Group asset management firms : Crédit Mutuel Asset Management, La Française Asset Management, La Française Systematic Asset Management, La Française REM, Crédit Mutuel Epargne Salariale, CIC Private Debt, Crédit Mutuel Capital Privé, Cigogne Management, Crédit Mutuel Gestion, New Alpha Asset Management, Banque de Luxembourg Investments, Dubly Transatlantique Gestion.