GLOBAL - BNP Paribas Asset Management (BNPP AM) is pursuing an agreement to acquire full ownership of Fisher Francis Tree and Watts (FFTW), a US based global fixed income asset manager.
Although wholly owned, FFTW would remain an independently operated company and continue to run its own day-to-day management.
Although FFTW is focused on traditional fixed income management, the company to offers an array of total and relative return strategies as well as structured securities.
BNP and FFTW formed a stragteic alliance seven years ago. “The quality of work we have achieved in this time makes me very excited about dedicating additional resources to enable FFTW to move on step further in product innovation,” said Gilles Glicenstein, BNPP AM chairman.
Stephen Casper, FFTW’s CEO said the additional of capital by BNP would allow the company to take advantage of opportunities offered by a constantly evolving and increasingly competitive business.
In addition to the acquisition, former BNP CIO Philip Lespinard has been appointed FFTW’s executive vice president and deputy CEO. He will be focusing on new product development while ensuring the co-ordination of the fixed income strategy with BNP.
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