Bringing you live news and features since 2006 

Announcement

Amundi to acquire Smith Breeden Associates

RELATED TOPICS​

Paris-based asset management firm Amundi is to acquire Smith Breeden Associates, a US institutional asset management firm specialising in the major US fixed income sectors.

The final agreement between Amundi and Smith Breeden is subject to customary conditions, including informing regulatory authorities and gaining the approval of certain clients and shareholders. The closing of the transaction should take place by the end of September 2013.

For Amundi, the acquisition of Smith Breeden has three key objectives: the ability to offer asset management expertise in US dollar products to its institutional and corporate clients in Europe, Asia and the Middle East; secondly, a strengthening of the US component of its Global Fixed Income expertise; and thirdly a way to enhance the development of Amundi’s expertise in the US.
 
For Smith Breeden, the rationale for this transaction is equally compelling, as it gives Smith Breeden the opportunity to: strengthen its relationships with US clients; reach out to Amundi’s worldwide institutional client base; and Benefit from Amundi’s global investment, research, client servicing and operating resources.
 
Upon the closing of this transaction, Smith Breeden will be renamed Amundi Smith Breeden, and be a fully-owned and controlled subsidiary within the Amundi group. Patrick Pagni, currently Amundi’s Senior Regional Officer for North America, will serve as Executive Chairman of Amundi Smith Breeden, and Mike Giarla will continue to manage the company as Chief Executive Officer. All key people within Smith Breeden expressed their support of the transaction. The company will be part of Amundi’s Fixed Income organization; there will be no change in Smith Breeden’s investment process or personnel. The acquisition of Smith Breeden is a significant contribution toward Amundi’s goal of creating a global fixed income platform with established regional expertise.
“The integration of Smith Breeden constitutes a new step in Amundi’s development. It will enhance the range and the quality of our fixed income offerings for our clients, thanks to the expertise of the Smith Breeden team, which shares with Amundi common values based on a long term commitment to the clients and the delivery of sustainable performance through a disciplined research-driven investment process,” says Yves Perrier, Chief Executive Officer of Amundi.

“This transaction represents a unique opportunity for Smith Breeden to join one of the strongest players in global asset management. Together, we will make Amundi Smith Breeden a company that will benefit both our clients and our employees. We are looking forward to working with Amundi to build upon our recent successes and further expand our client base,” says Mike Giarla, Chairman and Chief Executive Officer of Smith Breeden Associates.

Latest News

Raymond James Investment Management plans to launch an ETF product platform in 2025 to support strong client demand in alignment..
Aniket Ullal, Director of ETF Data and Research at CFRA Research, has written a note looking at ETFs with exposure..
Tradeweb reports the following data derived from trading activity on the Tradeweb Markets institutional European- and US-listed ETF platforms...
iShares writes that its assets under management have reached USD4 trillion. The firm says this comes off the back of..

Related Articles

Scott Kefer, VictoryEx Capital Holdings
Bailey McCann writes that active ETFs are capturing investor interest, according to the latest data from Morningstar, which finds that...
Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by