In charge of the eurozone’s biggest asset management company, Yves Perrier runs a well-oiled machine.
Thanks to its expansion in recent years, Amundi is knocking on the door of the asset management company global top ten. This impressive achievement came initially via consolidation in the French market, before a raft of international acquisitions.
In 2015 Perrier held one of the Paris stock-exchange’s biggest IPOs since the 2008 crash, when Amundi debuted with a valuation of €7.5 billion. This was an important step for the company, as well Perrier knew, since it changed how Amundi was perceived, notably by potential partners and investors.
In parallel, Perrier has overseen a whole host of socially responsible investments. In 2018, Amundi partnered with the International Finance Corporation and, bolstered by a $1.4 billion launch fund, the French company promptly became the biggest green bonds fund in the world.
Invest for success
Prior to this initiative, in 2012 the asset manager got a foothold in the United States market with the acquisition of dollar-bond fund manager Smith Breeden Associates and swiftly made its offices the base of Amundi’s North American operations.
The firm wasted no time in expanding its base in Europe too, with the acquisition of Bawag PSK Invest, the asset management wing of Austrian bank Bawag PSK. The acquisitions came thick and fast thereafter, with bases of operations set up in Dublin, Boston and New York.
"Above all else, it was the 2016 purchase of Pioneer Investments for $4 billion that saw Amundi enter the big leagues"
However, above all else, it was the 2016 purchase of Pioneer Investments that saw Amundi enter the big leagues, creating a major player with the necessary resources to rival the biggest multi-national, multi-asset firms in the world. A subsidiary of Italian bank Unicredit, Pioneer cost Amundi the princely sum of $4 billion.
Always on the look-out for proactive growth opportunities, in January Amundi bought Sabadell Asset Management for $500 million. This operation ensured it now occupies an enviable position in the Iberian market.
The conquest of Asia has continued apace in recent times too, with Amundi embarking on joint-ventures allowing it to manage a total of €300 billion there. Last December Amundi reached an agreement with Bank of China Wealth Management which, according to Yves Perrier, has led to the establishment of a top-tier asset management company in the Chinese market.
With $1.8 trillion in assets under management around the time the coronavirus pandemic was declared, it will be interesting to observe Perrier’s plans for navigating investments in the ongoing emergency.