Amundi’s acquisition of Smith Breeden Associates has been finalised following completion of the customary conditions of informing regulatory authorities and gaining approval from certain clients and shareholders.
Smith Breeden Associates is now Amundi Smith Breeden.
Paris, France-based Amundi is a European asset management firm with close to EUR750bn in assets. Amundi Smith Breeden is the North American investment headquarters for Amundi.
The creation of Amundi Smith Breeden, a fully-owned and controlled subsidiary within Amundi’s fixed income organisation, is a significant step toward Amundi’s goal of creating a global fixed income platform with established regional expertise.
There will be no change in Smith Breeden’s investment process or personnel. Patrick Pagni, Amundi’s senior regional officer for North America, will serve as executive chairman, and Mike Giarla will continue to serve as chief executive officer.
“Amundi Smith Breeden is key to our growth strategy. It enables Amundi to strengthen its US expertise and provide the best investment solutions to our clients, which is consistent with our long term commitment to them and the delivery of sustainable performance,” says Yves Perrier (pictured), Amundi chief executive officer.
“Smith Breeden’s acquisition by one of the world’s leading global asset management firms is a win for all involved. We’re especially enthusiastic about the potential benefits of our shared expertise for Smith Breeden and Amundi clients around the globe,” says Giarla.