Amundi Smith Breeden has announced that following completion of the customary conditions of informing regulatory authorities, and gaining approval from certain clients and shareholders, Amundi’s acquisition of Smith Breeden Associates has been finalized; Smith Breeden Associates is now Amundi Smith Breeden.
Paris, France-based Amundi is a leading European asset management firm with close to EUR750 billion in assets. Amundi Smith Breeden LLC is the North American investment headquarters for Amundi, a top 10 global asset manager.
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The creation of Amundi Smith Breeden, a fully-owned and controlled subsidiary within Amundi’s fixed income organization, is a significant step toward Amundi’s goal of creating a global fixed income platform with established regional expertise; there will be no change in Smith Breeden’s investment process or personnel.
Patrick Pagni, Amundi’s Senior Regional Officer for North America, will serve as Executive Chairman, and Mike Giarla will continue to serve as Chief Executive Officer.
Yves Perrier, CEO, Amundi, said: "Amundi Smith Breeden is key to our growth strategy. It enables Amundi to strengthen its U.S. expertise and provide the best investment solutions to our clients, which is consistent with our long term commitment to them and the delivery of sustainable performance."
Mike Giarla, CEO of Amundi Smith Breeden, said: "Smith Breeden’s acquisition by one of the world’s leading global asset management firms is a win for all involved. We’re especially enthusiastic about the potential benefits of our shared expertise for Smith Breeden and Amundi clients around the globe."
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By GlobalDataAs disclosed at the time of the agreement, Amundi acquired Smith Breeden to accomplish three key objectives:
1. Offer asset management expertise in US dollar products to its institutional and corporate clients in Europe, Asia and the Middle East.
2. Strengthen the US component of its Global Fixed Income expertise.
3. Enhance the development of its expertise in the US
This acquisition provides Smith Breeden the opportunity to:
1. Strengthen its relationships with US clients.
2. Reach out to Amundi’s worldwide institutional client base.
3. Benefit from Amundi’s global investment, research, client servicing and operating resources.
Members of the new Amundi Smith Breeden Board of Directors are Patrick Pagni, Amundi Senior Regional Officer for North America, Executive Chairman, Amundi Smith Breeden; Mike Giarla, CEO, Amundi Smith Breeden; Stephen Eason, CFA, Senior Executive Vice President, Amundi Smith Breeden; Markus Krygier, PhD, Senior Executive Vice President, Amundi Smith Breeden; Pascal Blanqué, Amundi Deputy CEO, Global CIO, Head of Institutional and Third Party Distribution; Eric Brard, Amundi Global Head of Fixed Income; and Bernard de Wit, Amundi Deputy CEO, Global COO, Director of Support and Development.
