First Abu Dhabi Bank and Amundi Enter into a Strategic Partnership to Expand Investment Solutions across the GCC
First Abu Dhabi Bank (FAB), the UAE’s global bank and one of the world’s largest and safest financial institutions, has announced the signature of a Memorandum of Understanding with Amundi, Europe’s leading asset manager, to expand access to world-class investment solutions and further strengthen FAB’s investment management offering to clients.
The collaboration will encompass a broad spectrum of investment solutions across client segments, formats, and asset classes. By combining their strengths and expertise, FAB and Amundi aim to deliver differentiated financial solutions to investors, raising the bar in the GCC’s asset management landscape and exemplifying global best practice.
This partnership reflects FAB and Amundi’s long-term commitment to delivering enhanced and bespoke investment solutions and services across all client segments, including retail, private banking, and institutional investors, building on several decades of experience and success.
Hana Al Rostamani, Group Chief Executive Officer at, First Abu Dhabi Bank, said: “Our strategic partnership with Amundi is a key moment in FAB’s journey to elevate our investment capabilities and bring best-in-class asset management solutions to our clients. By joining forces with one of the world’s leading asset managers, we are reinforcing FAB’s position as the UAE’s global bank and a partner of choice for clients seeking international expertise and tailored solutions. This partnership demonstrates our commitment to delivering greater value, deepening client relationships, and supporting the UAE’s ambitions as a regional and global financial hub.”
Valérie Baudson, Chief Executive Officer of Amundi, commented:“We are delighted to join forces with FAB to bring Amundi’s global expertise to investors in the GCC. As we see accelerating demand for various investment solutions across the Middle East, partnering with FAB, a leading financial institution, supports our ambition to deepen our presence and capture long-term growth in this high-potential market. The collaboration combines our broad suite of solutions, with local insight and scalable digital & advisory capabilities, and will allow us to deliver long‑term value for clients while accompanying the ongoing development of the GCC’s financial ecosystem.”
This milestone marks the first partnership of its kind for Amundi in the UAE and supports its strategy to grow its presence in high-potential markets, such as the Middle East. The partnership also showcases FAB’s continued investment in forging strategic alliances that advances its ambition to deliver exceptional client experiences, broaden its wealth and investment offering, and drive long-term growth in the GCC and beyond.
Amundi adds to ESG ETF range with China and EM ex-China equities ETFs
Amundi, Europe’s largest asset manager(1) and a pioneer in responsible investing, is delighted to announce the expansion of its ESG ETF range with the listing of two additional Emerging Market ESG ETF building blocks on the London Stock Exchange. Both ETFs have been developed and launched in collaboration with the global asset manager AllianceBernstein.
Amundi adds China and EM ex-China core exposure building blocks to ESG ETF equities rangeThe Amundi MSCI Emerging ex-China ESG Leaders Select UCITS ETF DR and the Amundi MSCI China ESG Leaders Select UCITS ETF DR provide exposure to broad Emerging Markets ex-China and Chinese equities, respectively.
In line with investor demand, these new ETFs incorporate ESG criteria and are classified as Article 8 under SFDR regulation. They both:
– Apply exclusion filters on companies involved in controversial activities including tobacco, weapons and thermal coal;
– Implement a best-in-class approach by selecting the top 50% of companies in each sector by ESG score
With a competitive OGC(2) of 0,35%, these complementary ETFs represent an important extension to the Amundi range of ESG ETFs, offering investors cost-effective and sustainable exposure to broad emerging markets and China.
Amundi has a long history of working with clients to develop solutions to meet their needs. For AllianceBernstein, ESG is integrated in over US $456 billion of assets managed3. Partnering with Amundi to add core emerging market equity ESG exposures was an important step in responding to the growing demand for more sustainable investment solutions.
David Hutchins, Portfolio Manager of Multi Asset Solutions at AllianceBernstein, commented: “Integrating consistent ESG considerations into all of our investments within our multi-asset portfolios, including our target date funds widely used by UK DC plans, is fundamentally important to the way we and our clients think. In addition, we no longer think that China should be considered as an emerging market and a more sophisticated approach is needed to the world’s second largest economy which increasingly shares little in common with the emerging markets it is often bucketed with. We are proud to be partnering with Amundi for this venture and look forward to working with the team there.”
Gaëtan Delculée, Global Head of ETF, Indexing & Smart Beta Sales, Amundi, said: “We are delighted with our partnership with AllianceBernstein, which illustrates our commitment to providing ongoing dialogue with clients and responding to their individual needs. As a dedicated partner and responsible investing leader, we believe it is incumbent upon us to guide and support our clients throughout their ESG journey.”
1 Source IPE “Top 500 asset managers” published in June 2021 and based on AUM as of end December 2020
2 Ongoing charges: Ongoing charges – annual, all taxes included. The ongoing charges represent the charges taken from the fund over a year. Until the fund has closed its accounts for the first time, the ongoing charges are estimated. Transaction cost and commissions may occur when trading ETFs
3 Source: AllianceBernstein
Amundi has announced the appointment of Alexander Preininger as Head of Institutional Clients Coverage
Alexander Preininger joins Amundi from Robeco Institutional Asset Management B.V. where he was Head of Institutional Coverage EMEA since February 2019. Prior to that, he was Head of Institutional Coverage EMEA at DWS Group since 2016. Alexander occupied several senior roles at DWS group. He was Global Co-Head Client Solutions from 2012 to 2017 and he also assumed the role of Head of Asset and Wealth Management at DWS in Japan from 2014 to 2016 based in Tokyo (Japan) during this time. Prior to that, Alexander was Global Head of Overlay Management at DWS from 2009 to 2012. He started his career as Senior Porfolio Manager in the Multi Asset Portfolio Management team in 2002 at DWS. Alexander holds a M.A. in international economics and business administration from University of Innsbruck, Austria and is a Certified EFFAS Financial Analyst (CEFA).
Amundi extends the ESG Improvers Fund Range with two fixed income Fund Strategies
Amundi, the largest European asset manager, has extended the Amundi Funds ESG Improvers range with two fixed income strategies: global credit and global high yield.
The actively managed ESG Improvers range was launched in 2020 and is available to institutional and retail investors seeking to capture ESG-related growth potential at an early stage.
Amundi has extended the ESG Improvers family of funds to include two fixed income investment fund strategies:
Amundi Funds Global Corporate ESG Improvers Bond, which seeks to outperform the ICE Bank of America Global Large Cap Corporate Index (USD Hedged)
Amundi Funds Pioneer Global High Yield ESG Improvers Bond, which seeks to outperform the ICE Bank of America Global High Yield Index (USD Hedged)
As with the equity asset class, the investment teams use a dynamic forward-looking approach to identify bond issuers with promising ESG trajectories through a strategy based on three principles:
Exclude issuers that are not aligned with Amundi’s ESG framework;
Select issuers that are fundamentally attractive and that are showing or expected to show real and material progress on ESG. These companies are identified through a fundamental bottom up investment process which integrates Amundi’s proprietary ESG methodology;
Actively engage with company management throughout the investment process to understand and positively impact the company’s financial and ESG credentials as a whole, and build a portfolio of high conviction holdings.
The range will enable investors to apply their portfolio asset allocation from among the ESG champions of tomorrow.
Responsible investment at the heart of the Fund’s approach
As a pioneer in responsible investing, Amundi manages over €798bn in responsible investment assets with over 10,000 issuers rated with respect to ESG criteria. Amundi’s recognised ESG analysis process will be fully integrated into the investment approach of the Fund.
Benefiting from the proven experience of Amundi Research and Portfolio Management teams, the strategy of Amundi Funds ESG Improvers combines fundamental and ESG analysis to fully contextualise any potential investment.
Vincent Mortier, Deputy CIO at Amundi, commented: “With the addition of the global corporate bond and global high yield strategies, investors can further benefit from this innovative strategy in fixed income, which has already been successfully applied to the equity asset class.”
These sub-funds are available within the Amundi Funds SICAV and are currently registered in the following countries:
Global Corporate ESG Improvers Bond: Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Norway, Switzerland, Sweden, the UK
Pioneer Global High Yield ESG Improvers Bond: Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Norway, Switzerland, the UK
Signature of the Master Agreement for the acquisition of Lyxor by Amundi – Finalisation expected at end 2021
Amundi and Société Générale announce the signature, earlier than the considered schedule, of the master agreement for Amundi’s acquisition of Lyxor[1]; as a reminder, the entry into exclusive negotiations had been announced on 7 April[2].
The finalisation of this transaction is expected at the end of 2021[3], subject to the prior approval of the competent regulatory and competition authorities.
[1] Certain activities from Lyxor are excluded from the scope of the transaction and retained by Societe Generale: (i) structured asset management solutions intended for Societe Generale’s global markets clients and (ii) asset management activities dedicated to savings solutions and carried out for Societe Generale (Branch networks and Private Banking) such as structuring of savings solutions, funds selection and the supervision of the Group’s asset management companies.
[2] See press release and presentation of 7 April 2021, available on the website https://legroupe.amundi.com/Sites/Amundi-Corporate/Pages/Actualites/2021/Acquisition-de-Lyxor
[3] No later than February 2022
Amundi General Meeting
– Vote on all resolutions with an average percentage of 97.5%
– Dividend set at EUR 2.90 per share
– New capital increase reserved for employees
– Changes in governance
General Meeting and dividend
The General Meeting of Amundi shareholders was held on Monday 10 May 2021 without the physical presence of the shareholders. Shareholders had the opportunity to attend and participate in the General Meeting remotely and live, in particular to vote on the draft resolutions and to ask questions during the discussion period opened by the Chairman of the General Meeting.
With a quorum of 89.57%, the General Meeting approved all the resolutions proposed by the Board of Directors, with an average percentage of 97.5%. Detailed voting results of the AGM are available at https://legroupe.amundi.com.
As announced on 10 February 2021, Amundi’s financial strength allows it to resume its dividend policy[1], a payout ratio of 65% of the Group’s 2020 accounting net income. The dividend for the 2020 financial year has been set at EUR 2.90 per share, a yield of 3.7%.[2] It will be detached from the share on 13 May 2021 and paid out from 17 May 2021.
New capital increase reserved for employees
Following the General Meeting, the Board of Directors has decided on a capital increase reserved for employees ; the completion date which is expected to take place in July 2021. This is the fifth increase since Amundi was listed on the stock market in November 2015.
This offering will strengthen employees’ sense of belonging and will be carried out within the framework of the authorisation voted by the General Meeting in May 2021. The impact of this operation on the net earnings per share should be negligible: the maximum volume of shares created will be 1 million shares (i.e. 0.5% of the capital and voting rights) and the discount offered to employees will be 30%.
Changes in governance
In addition, as announced last February, the Board of Directors decided to change the governance structure following the General Meeting:
Valérie Baudson was appointed Chief Executive Officer of Amundi, succeeding Yves Perrier;
Yves Perrier was elected Chairman of the Board of Directors of Amundi, succeeding Xavier Musca.
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^ [1] In accordance with the recommendations published by the ECB on 27th March 2020 related to the Covid-19 crisis, Amundi suspended the dividend payout for the 2019 financial year.
^ [2] Based on Amundi’s 7 May 2021 share price at market close
Societe Generale and Amundi announce the signature of a new partnership agreement
Societe Generale and Amundi announce the signature of a new five-year partnership agreement under which they will continue to develop their relationship in the investment solution distribution and securities services activities. The agreement will take effect from November 2020.
Amundi, Europe’s leading asset manager, will continue to operate as Societe Generale group’s primary partner for the supply of savings and investment solutions for its retail banking and insurance networks, as part of an open architecture structure allowing access to other asset managers. Building on the relationship the two groups have developed over several years, Societe Generale will continue to be a leading supplier of securities services for Amundi.“Managing their savings is a key concern of our clients and vital for the sustainable development of our economies. This partnership heralds a new stage in our strategy around the supply of investment solutions as we work to create open architecture solutions that our retail networks can offer our clients, while also allowing them access to best-in-class management expertise in France and internationally, and meet their growing demand for socially responsible investment. The provision of responsible and innovative financial solutions is central to our corporate purpose. Amundi, the leading asset manager in Europe, which Societe Generale helped to create, will be an essential partner of the value proposal we aim to establish for our clients. Moreover, we will continue to support Amundi in their international development through our comprehensive and flexible range of Securities Services solutions,” says Frédéric Oudéa, Chief Executive Officer of Societe Generale.“We are delighted to renew our agreements with Societe Generale, which has been a partner of Amundi since its creation. Through this renewal of this partnership in its various components, we will be able to continue helping to develop Societe Generale’s offering and services for its retail banking network clients. This renewal confirms Amundi’s position as a reference partner of the retail banking networks in Europe,” says Yves Perrier, Chief Executive Officer of Amundi.Societe Generale and Amundi signed their first commercial distribution agreements in 2009. These were renewed in 2015 during the IPO of Amundi, when Societe Generale sold all its shares in the group.
Amundi Real Estate completes its first acquisition in Barcelona
Amundi Real Estate announces that it has acquired a new building, called “SA 65”, in the heart of Barcelona from Conren Tramway, a Spanish commercial property developer. The building was completed in February this year.
Designed by the architectural firm TAG Management, “SA 65” offers 8,330 m² of office space over 6 floors and a 1,200 m² roof terrace. It will be entirely occupied by Wojo (formerly Nextdoor), a promising French co-working company and subsidiary of the Bouygues and Accor groups, under a lease with a fixed term of 9 years and 4 months.
Located in the heart of Barcelona’s 22@ sector, which is an extension of Barcelona’s business district, the building benefits from optimal accessibility. 22@ is experiencing strong growth thanks to a diverse ecosystem made up of companies from the high-tech and services sectors, as well as cultural and commercial spaces.
Due to its technical qualities and the design of the project, the “SA 65” building is aiming for “LEED Core and Shell – Gold level” certification. Jean-Marc Coly, Managing Director of Amundi Real Estate, said: “With the acquisition of ‘SA 65’, we are completing our first transaction in Barcelona. This transaction is perfectly in line with our strategy of investing in Core/Core+ assets internationally.” DLA Piper, Mace, L’Étoile Properties Ibérica and CBRE advised Amundi Real Estate on this transaction.
Amundi appoints Jeanne Duvoux as CEO of Amundi Luxembourg
Amundi announces the appointment of Jeanne Duvoux as CEO of Amundi Luxembourg. Jeanne Duvoux is Chief Executive Officer of Amundi Luxembourg. Jeanne joins Amundi from Société Générale in Luxembourg where she was head of the private banking business unit and a member of its Executive Committee since 2015.
Having joined Société Générale group in 1996, she successively held the positions of CFO for Fimat Group and Managing Director of Fimat Banque. Following the acquisition of the securities services from Unicredit Group, Jeanne Duvoux took up the role of Deputy Head of SGSS S.p.A (Italy) in 2006, before becoming Managing Director in January 2012.
Jeanne started her career in 1989 as an auditor in Deloitte.
Jeanne is a graduate in Economics and Business from Neoma business school and is a Certified Public Accountant.