La Banque Postale reinforces its asset management activities

LBP AM enters into exclusive negotiations with Groupe Primonial with a view to acquiring 100% of La Financière de l'Échiquier (LFDE). La Banque Postale, which is one of the bancassurance leaders in Europe, aims to accelerate its business diversification and develop its levers for growth, both in France and abroad. The proposed transaction is fully in line with this ambition.

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With this transaction, La Banque Postale Asset Management (LBP AM), a subsidiary of La Banque Postale (at 75%) and Aegon Asset Management (at 25%), would consolidate its position as a multi-specialist conviction manager with total assets under management of €67 billion. It would also extend its presence to 9 European countries and broaden its range of products.

Emmanuelle Mourey, Présidente du Directoire de LBP AM

We are delighted with this project to acquire La Financière de l’Échiquier, which reinforces the choice made 2 years ago to adopt a multi-specialist conviction management model. In an increased competitive environment, this transaction would be a major asset to strengthen our distribution channels and continue our growth in France and Europe. I am convinced that the quality of the teams in place and the sharing of a common culture of innovation would allow us to respond effectively to the crucial challenges of our industry and to the needs of all our clients in terms of financial and extra-financial performance.

Emmanuelle Mourey — Chairwoman of the Management Board of LBP AM

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