French asset manager Oddo & Cie has bought Germany’s Meriten Investment Management from BNY Mellon, creating an asset manager that will manage assets worth over EUR40bn.
The new group, named Oddo Meriten Asset Management, will offer a broader range of investment solutions. It aims to specialise in European financial markets and cover all main asset classes.
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Oddo & Cie managing partner Philippe Oddo said, "We are creating a unique asset manager combining French and German expertises to serve the needs of our clients. We are very proud to welcome the teams from Meriten, renowned for their expertise and the quality of their products and services."
Düsseldorf-based Meriten Investment Management has a workforce of about 180 and manages EUR24.8bn in assets.
The firm, headed by Werner Taiber, specializes in European fixed income, multi-asset and quantitative investment strategies.
Oddo Asset Management has a workforce of 110 and manages EUR16bn in assets. It has offices in Paris, Geneva, Milan, Frankfurt and Singapore and specialises in European equities, convertible bonds and multi-asset strategies.
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