FRANCE - Asset Square, a wholly-owned subsidiary of Natexis Banques Populaires, one of the largest French investment, financing and full service banks, has signed a co-operation agreement with Goldman Sachs Asset Management International.
Both parties will benefit from the experience of a large banking network and an international asset manager to consolidate their position on the multi-management market. Both plan to:
* Maximise their respective multi-manager skills, the public image of their groups and the distribution network of all the entities of Banques Populaires.* Structure their teams of investment specialists to develop and manage multi-manager products which will cater to institutional and individual investors. * Entrust Paris and London-based Asset Square with the exclusive distribution of multi-management products to French investors.
According to Natexis, this cooperation will enable:
* Asset Square to complete its range of multi-manager products and gain market share with both institutions and individual investors due to the help of Goldman Sachs’ multi-management team.* Goldman Sachs to accelerate the development of its multi-management business in France using Asset Square’s distribution network, and to benefit from its financial and marketing expertise.
Jean-Pierre Morin, in charge of the third-party asset management division of Natexis Banques Populaires said: Asset Square is one of the most important projects of Natexis Banques Populaires in the field of asset management. Our aim is to become a leader of the multi-management in Europe.
Goldman Sachs is one of the world leaders in asset management with EUR302bn of funds under management.
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