Banco Sabadell and Amundi announce a 10 year strategic partnership for the distribution of Amundi products across the Banco Sabadell’s networks in Spain. This agreement aims to boost Banco Sabadell’s fund business.
This strategic alliance includes the acquisition by Amundi of 100% of Sabadell Asset Management1, a leading asset manager in Spain, with €21.8bn2 of assets under management, of which €16.1bn is in Spanish-domiciled funds.
Banco Sabadell’s retail clients will benefit from Amundi’s wide range of recognized savings and investments products, and a comprehensive set of tools.
This agreement reinforces Banco Sabadell’s commitment to increase customer satisfaction rates (one of the bank’s commercial priorities for 2020).
Amundi will benefit from Banco Sabadell’s regional presence, through its 1,900 branches, which will become a partner network in Spain.
This transaction will allow Amundi to consolidate its European leadership position and to deploy its unique business-model aimed at serving retail networks.
Sabadell Asset Management and Amundi Iberia will remain two separate legal entities, in order to preserve the operation of investment funds or pension plans of each entity:
- Sabadell Asset Management will remain dedicated to Banco Sabadell’s network, and will leverage on Amundi’s comprehensive capabilities to better serve its customers.
- Amundi Iberia, which manages €21bn3, will remain focused on its existing customers.