
Allianz Dresdner merges French firms
FRANCE - Allianz Dresdner has merged its French asset management operations into one entity in order to strengthen its market position.
The new entity, AGF Asset Management, has now started trading and has nearly EUR54bn under management, making it one of France's largest fund managers.
Allianz claims the two former organisations have each contributed their respective strengths in terms of size, expertise and customer approach to the new firm.
According to Allianz, the merger of AGF with Dresdner RCM Gestion will initially involve a lease-management arrangement for Dresdner's activities, followed by the merger of the two firms. The merger is part of AGF's plans to become a global financial services group, encompassing life insurance, banking services and asset management.
By Geoffrey Ho
Latest stories
Late Cycle Asset Allocation Views
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
Five stories you may have missed this week
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
Pearson scheme completes £500m buy-in with L&G
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.
Back to Top