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M&A, Partnerships and Organic Growth in Asset Management, Q1 2007

Published by: Datamonitor

Published: May. 1, 2007 - 22 Pages


Table of Contents



The Roundup

M&A

Partnership

Organic Growth



The Developments

ABN AMRO

Allianz

Amvescap

Aviva

Barclays

BBVA

BNP Paribas

BSI Private Clients

Citigroup

Commerzbank

Credit Agricole

Credit Suisse

Deutsche Bank

Dexia

DNB Nor

Fortis

Franklin Templeton

Goldman Sachs

HBOS

HSBC

ING

Intesa Sanpaolo

JP Morgan Chase

Julius Baer

Merrill Lynch

Morgan Stanley

Rabobank

Sal Oppenheim

Schroders

SEB

Société Générale

Swiss Life

UBS

Unicredit



APPENDIX

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer



The Roundup

M&A

Partnership

Organic Growth



The Developments

ABN AMRO

ABN AMRO and Barclays announced merger discussions (M&A) - March 07

ABN AMRO acquired a controlling stake in Prime Bank (M&A) - March 07

ABN AMRO reduced staff in North America (Organic Growth) - December 06

Allianz

Allianz set up a new business unit to centralize and combine investment activities (Organic Growth) - March 07

Amvescap

Invesco Perpetual strengthened Emerging markets team (Organic Growth) - March 07

Aviva

Aviva launched a new hedge fund (Organic Growth) - March 06

Morley has hinted at expansion into China (EME) - March 07

Morley appointed a fund manager to its regeneration fund (Organic Growth) - February 07

Barclays

Barclays and ABN AMRO announced merger discussions (M&A) - March 07

Barclays recruit new team to focus on gaining new customers (Organic Growth) - March 07

BBVA

BBVA opens a Mumbai office (Organic Growth) - December 06

BNP Paribas

BNP Paribas consolidates its traditional investment and indexed & structured investment management teams (Organic Growth) - March 07

BSI Private Clients

BSI and BUC merger complete (M&A) - January 07

Citigroup

Citi China gains approval to operate as a Locally Incorporated Bank (EME) - March 07

Citi opens a Prime Brokerage Office in Singapore (Organic Growth) - March 07

Citigroup reach agreement for acquisition of Egg Banking plc from Prudential PLC (M&A) - January 07

Commerzbank

Commerzbank agreed the sale of its UK Asset Management subsidiary, Jupiter (M&A) - March 07

Credit Agricole

Credit Agricole partner with IFC in Africa (Partnership) - March 07

Credit Agricole and Intesa Sanpaolo split their Asset Management joint venture (M&A) - March 07

Credit Agricole and Intesa Sanpaolo sign the contract for the sale of Piacenza and FriulAdria (M&A) - March 07

Credit Agricole Asset Management opens a Sydney office (Organic Growth) - January 07

Credit Agricole and Intesa Sanpaolo do not pursue Asset Management partnership (M&A) - January 07

Credit Suisse

Deutsche Bank

Deutsche Asset Management expands its Global Institutional Fixed Income Investment team (Organic Growth) - March 07

Deutsche Bank Asset Management to advise Converium insurance investment portfolio (Partnership) - February 07

Deutsche Bank Asset Management expanding Alternative Investments Business under RREEF (M&A) - January 07

DWS Investments sells local mutual fund business in Italy to Anima (M&A) - December 06

Dexia

Dexia and BNP Paribas entered discussions regarding Dexia Banque Privée France (M&A) - December 06

Dexia Asset Management opened a representative office in Bahrain (Organic Growth) - December 06

DNB Nor

DnB NOR to acquire BISE Bank (M&A) - December 06

Fortis

Fortis set to acquire over 50% in Pacific Century Insurance (M&A) - March 07

Fortis Lease Group expand further into Europe and Asia with Acquisition of Captive Finance Limited (M&A) - January 07

Franklin Templeton

Franklin Templeton have launched an Asset Management Business in Brazil (Organic Growth) - March 07

China Life and Franklin Templeton Investments form a Strategic Partnership (Partnerships) - January 07

Goldman Sachs

Strategic Partnership formed in Saudi Arabia, between Goldman Sachs, The National Commercial Bank and NCB Capital (Partnership) - February 07

HBOS

HBOS increases stake in Sainsbury's bank by 5% (M&A) - February 07

HSBC

HSBC obtains regulatory to become a local incorporation in China (EME) - March 07

HSBC to reinforce presence in Latin America (M&A) - February 07

HSBC set to increase stake in Vietnam's Techcombank (M&A) - January 07

ING

ING set to sell Regio Bank to SNS Reaal (M&A) - December 06

Intesa Sanpaolo

Intesa Sanpaolo and Credit Agricole split their Asset Management joint venture (M&A) - March 07

Intesa Sanpaolo and Credit Agricole sign the contract for the sale of Piacenza and FriulAdria (M&A) - March 07

Intesa Sanpaolo and Credit Agricole do not pursue Asset Management partnership (M&A) - January 07

Banca Intesa and Sanpaolo IMI Merge (M&A) - December 06

JP Morgan Chase

JP Morgan and Old Mutual Asset Managers (SA) reach an outsourcing agreement (Partnership) - December 06

Julius Baer

Julius Baer enhances presence in Singapore (Organic Growth) - March 07

Merrill Lynch

Merrill Lynch and Carver Bancorp create an alliance (Partnership) - March 07

Morgan Stanley

Morgan Stanley to Operate in Saudi Arabia with the Capital Group (Partnership) _ March 07

Vietnam Investment Bank Venture with SCIC chooses Morgan Stanley as a partner (Partnership) - March 07

Morgan Stanley to open wholly-owned subsidiary in India (M&A) - February 07

Morgan Stanley set to open a Prime Brokerage Office in Singapore (Organic Growth) - February 07

Prudential sell Egg Banking plc to Citigroup (M&A) - January 07

Rabobank

Rabobank acquires stake in Zambia National Commercial Bank PLC (M&A) - December 06

Sal Oppenheim

Oppenheim strengthens management (Organic Growth) - January 07

Schroders

Schroders acquires Aareal Asset Management (M&A) - December 06

SEB

SEB divests retail debt collection arm (M&A) - December 06

Société Générale

Société Générale is founding shareholding in Madagascan bank (Organic Growth) - March 07

Société Générale to acquire Ohridska Bank (M&A) - March 07

Banque Internationale d'Investissement in Mauritania now majority owned by Société Générale (M&A) - January 07

Leading Moldovan bank Mobiasbanca acquired by Société Générale (M&A) - January 07

Société Générale acquires Banco Cacique (M&A) - February 07

Swiss Life

Swiss Life acquired CapitalLeben (M&A) - December 06

UBS

Standard Chartered relinquishes Indian mutual funds management operation to UBS (M&A) - January 07

UBS and Standard Chartered Bank form alliance to distribute funds (Partnership) - January 2007

Unicredit

UniCredit restructures investment banking division (Organic Growth) - March 07

UniCredit company Pioneer Investments to partner with Baroda Bank of India in asset management (Partnership) - February 07

UniCredit to buy out minority shareholders in HVB and BA-CA - January 07

UniCredit acquires BA-CA shares from HVB - January 07



APPENDIX

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

Abstract

Introduction

This tracker covers merger/acquisition activity globally in the asset management space. It also highlights the strategic partnerships, and expansion (or contraction) of existing businesses. There is also a special focus on the important emerging markets: China, India, CEE and the Middle East.

Scope

The tracker covers the M&A and partnership activities of the largest global and regional asset management companies It provides an update of each player's activities in this area and a roundup chapter which offers readers a summary of key trends in that quarter The tracker is global in coverage, therefore encompassing market entry strategies as well as domestic M&A activity

Highlights

This quarter, several major asset managers were in discussions over mergers, including ABN Amro with Barclays, and Dexia with BNP Paribas. There were no clear trends across M&A activity however, with mergers and acquisitions taking place in order to achieve a number of strategic goals, such as increasing market presence. As partnership is the key strategy used to enter markets that have a radically different structure to an asset manager's home market, it is unsurprising that partnership is still being undertaken primarily to target emerging markets. There has been a strong theme of strategic partnership in order to penetrate new markets in this quarter.

Reasons to Purchase

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