Lyxor completes integration of Commerzbank’s asset management activities with launch of new branch in Germany
Lyxor Asset Management has completed the integration of Commerzbank’s asset management activities and of its total EUR16 billion in assets under management, following the purchase of Commerzbank’s Equity Markets & Commodities business by its parent company Societe Generale Group in November 2018.
As part of this integration, Lyxor has opened its first asset management branch both in Germany and outside of France, which is called Lyxor International Asset Management SAS Deutschland (Lyxor Deutschland) and is based in Frankfurt am Main. The branch will be jointly managed by Guillaume de Martel and Thomas Timmermann who are appointed co-heads of Lyxor Deutschland.
Lyxor Deutschland brings all of Lyxor’s own active and passive investment activities in Germany and Commerzbank’s EMC asset management business under one roof – including notably the ComStage range, one of the leading ETF providers in German retail banking.
They will be backed by a unified and expanded team of experts in Frankfurt, meaning institutional and private investors alike can be confident Lyxor Deutschland will offer them the products, scale and servicing they need.
Lyxor has been present in Germany since 2010 and will now lean on Commerzbank’s robust set-up and the expertise of its local asset management professionals to expand its range of active and passive investment solutions and deliver seamless client service in Germany and Austria.
Lionel Paquin (pictured), CEO of Lyxor Asset Management, says: “Thanks to our combined strengths, our shared client-oriented culture and our common vision of asset management, we are building an even stronger asset manager, right at the heart of Europe. With a platform founded on ETF expertise and innovation, active asset management and a deep understanding of the German retail market, I am convinced that together we will be even better placed and better equipped to support our clients as their needs evolve.”
Guido Zoeller, Group Country Head Germany & Austria for Société Générale, adds: "The launch of the new Lyxor Asset Management branch in Germany marks an important step in the on-going integration of EMC activities acquired by Societe Generale from Commerzbank. This new platform will allow Lyxor to further strengthen its development in Europe, especially in the German market, while complementing Societe Generale's offering in Germany for the benefit of our clients."