BaFin clears Oddo acquisition of Meriten

BaFin, the German financial regulator, has cleared the acquisition of Meriten Investment Management by Oddo & Cie, leaving the way forward to create  the €45bn Franco-German Oddo Meriten Asset Management.

The new manager will have some 55% of its clients in Germany, 37% in France and 9% in other markets – of which 76% are institutional investors and 24% third party distributors.

The new unified manager will offer capabilities across all main asset classes. Currently some €17bn of assets are in fixed income, €8bn in equities, €9bn in asset allocation,€2bn in convertibles, €6bn in systematic strategies, and €3bn in “other”.

The manager’s investment centres will be Paris and Düsseldorf, with offices in Milan, Geneva and Singapore.

In Paris, Nicolas Chaput becomes global CEO and co-CIO of Oddo Meriten Asset Management while Werner Taiber, based in Düsseldorf, becomes global deputy CEO in charge of Sales Development.

 

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