Europe's largest asset manager with $10.2 billion in assets under management, Amundi Smith Breeden, combines
with Pioneer Investment Management
to form Amundi Pioneer Asset Management
. The new firm will administer Amundi's United States investment hub and distribution platform and the combined assets add up to approximately $1.3 trillion in assets under management. [See MFWire's living timeline
of the deal]
| Lisa Jones|
Amundi Pioneer Asset Management
Through the merger, Amundi is rebranding itself within the United States as Amundi Pioneer. The integration and alignment of Amundi's entities, however, remain key to its organizational structure. The new U.S. brand signifies ownership by Paris-based Amundi Asset Management and the remarkably larger scale and resources of the combined firms. Amundi strives to maintain the strong brand recognition of Pioneer Investments in the U.S.
The consolidation of these firms expands each of their resources in all areas of the business, such as investments, distribution, marketing, and operations.
"We are looking forward to the opportunity to leverage the broad global resources of Amundi. In bringing together Pioneer and Amundi Smith Breeden, we are combining organizations that share similar investment philosophies and corporate cultures and that value teamwork across a collegial, collaborative environment," Lisa Jones,
CEO of Amundi Pioneer, states in the news release
. "Collectively we share an intense focus on meeting the needs of our clients and look forward to continuing to deliver innovative investment solutions."
Jones was previously president and CEO of Pioneer Investment Management and now serves as chairman, president and CEO of Amundi Pioneer.
who previously served as CEO of Amundi Smith Breeden, has been named chief operating officer of Amundi Pioneer.
The combined firms will be governed by one leadership as of July 3, 2017. The integration of legal entities is expected to be completed by or before January 1, 2018.
A spokesperson for Amundi Pioneer declined to offer their comments.
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