Amundi buys BAWAG’s AM subsidiary
French asset manager Amundi has confirmed the acquisition of BAWAG PSK INVEST, the asset management subsidiary of BAWAG, one of Austria’s largest retail banking institutions.
In addition, BAWAG P.S.K. and Amundi enter into a long-term distribution agreement to continue the distribution of INVEST products.
“BAWAG P.S.K. INVEST is a great business and we are proud of the role it has played in
BAWAG P.S.K.’s history”, said Byron Haynes, CEO of BAWAG P.S.K. “Amundi is the right global business to carry on growing the franchise for the benefit of our customers and employees.”
BAWAG Invest currently has €4.6bn in AUM and encompasses 78 retail and institutional funds for BAWG customers.