The contract signed between the two groups will come into effect in November 2020. Amundi, Crédit Agricole's asset management subsidiary, will thus remain Société Générale's leading partner for the provision of savings and investment solutions for the French bank's networks.
Amundi, Europe's leading asset manager
Amundi is Europe's leading asset manager in terms of assets under management and ranks in the top 10 worldwide. The group has 6 main management platforms (Boston, Dublin, London, Tokyo, Paris, Milan) and manages €1,592 billion. It offers its clients a wide range of investment solutions in active, passive, real and alternative assets, as well as expertise. Investors have access to a host of simple, intuitive tools enabling them to act on their savings and track the processing of their transactions in real time. The European leader in its sector is now present in 37 countries, with a workforce of almost 4,500.
Société Générale's leading partner
Société Générale and Amundi, who signed their first commercial distribution agreements back in 2009, announced on July 30 that they had signed a new partnership agreement.
As a result, Amundi remains the bank's leading partner, and will continue to distribute its products through its networks. For its part, Société Générale remains one of the asset management leader's leading suppliers of custody services.
The red and black bank is counting on this new 5-year partnership to enhance its savings management offering. The group aims to stand out from the competition by offering its customers a wider range of products, particularly in terms of investment themes. However, unlike other players in the sector, Société Générale operates solely as a distributor.
Investment products offered in nearly 2,700 branches
The renewal of this partnership agreement was eagerly awaited. The first commercial distribution agreements signed between the two groups had already been renewed in 2015 at the time of Amundi's IPO. At that time, the bank held 20% of Amundi's capital and sold its entire stake to Amundi.
The asset management company's investment products are offered to customers of Société Générale's 2,700 branches. This agreement " consolidates Amundi's position as a benchmark partner for retail networks in Europe ", says Amundi's CEO. For its part, Société Générale says it " represents a new step " in its strategy of offering investment solutions.