Amundi completed the acquisition of Sabadell Asset Management from Banco Sabadell for $477m

Amundi, a European largest asset manager, completed the acquisition of Sabadell Asset Management from Banco Sabadell, which attracts deposits and offers commercial banking services, for $477m. This transaction and the partnership with Banco Sabadell will allow Amundi to significantly reinforce its position in Spain, a major market in Europe for retail savings, and to consolidate its European leadership while deploying its unique business model aimed at serving retail networks. “We are pleased to announce the finalisation of the acquisition of Sabadell Asset Management, and the successful start of the strategic partnership with Banco Sabadell. We are convinced that this new growth driver offers a solid potential for development. This partnership is in line with Amundi’s strategy in Europe to deliver its capabilities and resources to serve customers through retail networks,” Yves Perrier, Amundi CEO.