Natixis and La Banque Postale create a European leader in fixed-income and insurance-related asset management: Ostrum Asset Management
Natixis and La Banque Postale have completed the combination of the fixed-income and insurance-related asset management businesses of Ostrum Asset Management and La Banque Postale Asset Management, following receipt of regulatory approvals. The closing of this combination on October 31, 2020 creates a European asset management leader with more than €430 billion1 in assets under management and over €590 billion1 under administration through its services platform as at end-September 2020.
Natixis and La Banque Postale are reorganizing their respective fixed-income and insurance-related asset management activities to give them a new dimension in an environment of persistent low interest rates. The combined activities will be housed within Ostrum AM, owned 55% by Natixis through its subsidiary Natixis Investment Managers, and 45% by La Banque Postale as part of its asset management division.
A leader in insurance-related and fixed-income asset management, Ostrum AM will now provide two distinct and independent offerings: asset management and investment services. In line with its client-centric organization, Ostrum AM is setting up two sales teams to manage all aspects of client relationships, one team for asset management and the other focused on its services platform.
Ambitious goals for investment services
Ostrum AM offers a range of modular investment services aimed at providing institutional investors and investment managers with analysis and insight in today’s complex market environment. It already counts numerous asset managers and major institutional investors among its clients for these services, which are based on a powerful technological platform that already administers over €590 billion1 in assets. Combining simplicity and security, the platform provides a highly-customized service, while adapting to a client’s existing systems and services. Clients, including asset managers and asset owners (insurers, pension funds and large corporates), can select their required services by combining components such as data management and processing, front and middle office systems, and order execution.
This activity, which is underpinned by continuous innovation to address client needs and regulatory changes, already accounts for almost a quarter of the company’s revenues and is a fundamental element in Ostrum AM’s growth and investment strategy.
A European leader in responsible liability-driven investment
With €430 billion1 of assets under management, including almost 75% in insurance-related assets, Ostrum AM ranks among the top 10 European asset managers2, and is focused on institutional, liability-driven investors (insurers, pension funds and large corporates). This capacity draws on the strengths of the two combined entities: longstanding fixed-income management expertise and renowned insurance-related management knowledge. Ostrum AM is a responsible and committed company with ambitious SRI goals: the analysis of all investments will incorporate ESG criteria from 2021, while 98% of assets managed in open-ended funds will carry SRI accreditations in 2022. Ostrum AM will benefit from reinforced research teams to support its corporate, non-financial and green bond-related analyses, an ESG strategy department geared to providing support for asset management teams, and the methodological framework developed by La Banque Postale AM. Ostrum AM will also bolster its engagement policy through constructive dialogue with issuers and will strengthen its climate goals.
An updated brand identity to tie in with a new vision
To embody this change and support the company’s growth ambitions, Ostrum AM is evolving its positioning and identity while retaining its recognized brand name. Its new tagline “Enhancing your power to act” refers to Ostrum AM’s ultimate mission: to support its clients in delivering on their commitments to their own clients and in underpinning the long-term goals, health and retirement of European citizens.
Philippe Setbon, Chief Executive Officer of Ostrum AM stated: “By joining forces, Natixis and La Banque Postale have laid the foundation for an ambitious growth strategy for Ostrum AM. We are completely recreating the way we serve our clients and liability-driven investors around a bespoke experience combining excellence in investment and customizable services.”
1Consolidated data at end-September 2020; source: Ostrum Asset Management. Administered assets include Ostrum AM's assets. The services provided for a given client may concern certain services only.
2 In terms of assets managed for institutional investors in Europe.
La Banque Postale, together with its subsidiaries, including CNP Assurances, a subsidiary of the La Poste group, operates in the retail banking, insurance, corporate banking and asset management markets. La Banque Postale supports its customers – private individuals, businesses, professionals, non-profits and the local public sector – with a comprehensive range of accessible services. As a local bank, La Banque Postale is the leading lender to local authorities and has an extensive branch network in France with more than 17,000 contact points, including 7,700 post offices. It is also developing a digital offering, especially through fully-mobile Ma French Bank. As a bank dedicated to serving the community, and a pioneer in responsible finance, La Banque Postale is charged with a public service mission of providing access to banking services through the Livret A passbook savings account.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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