Dexia Asset Management has been rebranded as Candriam Investors Group following its acquisition by New York Life Investments.

The newly-rebranded group will refocus as a multi-specialist asset manager with €73 billion assets under management.

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Naïm Abou-Jaoudé, CEO of Candriam and vice chairman of New York Life Investment Management International, said that the new name Candriam stands for Conviction and Responsibility in Asset Management.

Candriam, which has 500 employees in 11 countries, will offer equity, fixed income, alternative and multi-asset funds and will focus on strategies related to corporate and high yield, biotech, SRI, Quant and European equity strategies.

Through this partnership, Candriam’s funds will be added to New York Life’s US$90 billion platform, while Candriam will distribute its new parent’s funds in Europe and the Middle East and will benefit from the strengths and resources of the parent.

The tie-up with New York Life will enable Candriam to expand globally and improve its ability to deliver the products and services.

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However, the multi-boutique approach of New York Life Investments will allow Candriam to maintain the integrity of its investment processes and its distinct entrepreneurial culture.

Jaoudé said: "Our new beginning as Candriam offers an exciting opportunity to grow and develop a leading brand in Europe and abroad. This new energy will significantly reinvigorate our client relationships, unlock business opportunities and boost our innovation."