Amundi buys BAWAG’s AM subsidiary

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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.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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