M&A, Partnerships and Organic Growth in Asset Management, Q4 2007

Introduction

This tracker covers merger/acquisition activity globally in the asset management space. It also highlights the strategic partnerships, and expansion (or contraction) of existing businesses. There is also a special focus on the important emerging markets: China, India, CEE and the Middle East.

Scope

• The tracker covers the M&A and partnership activities of the largest global and regional asset management companies
• It provides an update of each player's activities in this area and a roundup chapter which offers readers a summary of key trends in that quarter
• The tracker is global in coverage, therefore encompassing market entry strategies as well as domestic M&A activity

Highlights

Asset management-related acquisitions in Q4 centred on Asia, Central and Eastern Europe and to some extent, Latin America. However entry into China was mainly done through partnerships rather than acquisitions

Asia, and particularly China, was the centre of partnership activity in Q4, with Aviva, BNY Mellon, DBS, and Unicredit all choosing partnerships over acquisitions (the first three companies in China and the last in India).

Reasons to Purchase

• Understand the competitor activity in your market and potential threats and opportunities
• Gain insight into your competitors' strategic movements

• The Roundup
• M&A
• Partnership
• Organic Growth
• The Developments
• ABN AMRO
  • ABN AMRO completes sale of LaSalle to Bank of America (M&A) - Oct 2007
  • ABN AMRO announces end of co-operation with Rothschild (Partnership) - Dec 2007
  • ABN AMRO finalizes sale of ABN AMRO Mellon joint venture (M&A) - Dec 2007
• Allianz
  • AGF Asset Management integrated into Allianz Global Investors - Oct 2007
• Aviva
  • Morley to form joint venture in China - (Partnership) Oct 2007
• BNY Mellon
  • InverCaixa selects Bank of New York Mellon subsidiary to develop first fund of hedge funds (Partnership) - Dec 07
  • The Bank of New York Mellon and Western Securities (China) Agree to Establish Asset Management Joint Venture (Partnership) - Nov 07
  • The Bank of New York Mellon to acquire ARX Capital Management in Brazil (M&A) - Nov 07
• Barclays
  • Barclays withdraws offer for ABN AMRO - (M&A) Oct 2007
• Black Rock
  • BlackRock acquisition of fund of funds business from Quellos complete - (M&A) Oct 2007
• BNP Paribas
  • BNP Paribas increases stake in Impax, environmental asset management specialist - (M&A) Dec 2007
  • BNP Paribas and Sahara Bank to cooperate in Libya - (Partnership) Oct 2007
• Citigroup
  • Citi completes acquisition of ATD (M&A) - Oct 07
• Commerzbank
  • Commerzbank sells French asset management subsidiary (M&A) - Oct 07
• Crdit Agricole
  • Crdit Agricole Asset Management opens German branch (Organic Growth) - Oct 07
  • IDEAM, dedicated to socially responsible investing, becomes a fully-owned subsidiary of Crdit Agricole (M&A) - Oct 07
• Credit Suisse
  • Credit Suisse acquires majority interest in Brazilian asset manager (M&A) - Nov 07
• DBS
  • DBS joint venture granted investor license in China (Partnership) - October 07
• Deutsche Bank
  • Deutsche Bank enters Taiwan asset management market (M&A) - December 07
• Fortis
  • Fortis to sell its stake in China's ICBC (Asia) (M&A) - Dec 07
• HBOS
  • Henderson Global Investors partners HSBC Insurance to manage property fund - (Partnership) Dec 07
• HSBC
  • HSBC to acquire The Chinese Bank in Taiwan (M&A) - Dec 07
  • HSBC establishes branch network in Peru as part of Latin America expansion (Organic growth) - Oct 07
• ING
  • ING closes transaction to acquire Turkey's Oyak Bank (M&A) - Dec 07
  • ING to acquire strategic stake in Thailand's TMB Bank (M&A) - Nov 07
  • ING Direct to acquire US online broker ShareBuilder (M&A) - Nov 07
• Intesa Sanpaolo
  • Crdit Agricole S.A. and Intesa Sanpaolo finalize the unwinding of the CAAM SGR (*) joint venture (Partnership) - Dec 07
• KBC
  • KBC closes acquisition of Economic and Investment Bank in Bulgaria - (M&A) Dec 07
  • KBC Asset Management buys 45% stake in Sunrise AM (Taiwan) (M&A) - Nov 07
  • KBC Securities closes acquisition of Senzal (Serbia) (M&A) - Oct 07
• Old Mutual
  • Skandia launches Skandia Investment Group (Organic growth) - Oct 2007
• Prudential Financial
  • Prudential Real Estate Investors buys Round Hill Capital Partners in Japan (M&A) - Dec 07
• Prudential PLC
  • Prudential Asset Management enters Hong Kong retail fund market with a unique range of high performing funds (Organic growth) - Oct 07
  • Prudential plc announces the sale of its direct private equity business, PPM Capital (M&A) - Nov 07
• Rabobank
  • Rabobank announces sale of Alex Beleggersbank (M&A) - Oct 2007
• Santander
  • Banco Santander sells Banca Antonveneta (M&A) - Nov 07
• Schroders
  • Schroders & Fisch Asset Management join forces to roll out convertible bond funds (Partnership) - Nov 07
• SEB
  • SEB acquires funds of hedge funds manager, Key Asset Management (M&A) - November 07
  • Swiss Life
• Swiss Life to sell its Dutch and Belgian businesses to SNS REAAL (M&A) - November 07
• UBS
  • UBS to acquire Caisse Centrale de Rescompte Group (M&A) - Oct 07
  • UBS Global Asset Management will not proceed with acquisition in India (M&A) - Dec 07
• Unicredit
  • Pioneer Investments expanding to India through joint venture (Partnership) - Oct 07
  • Pioneer Investments sets up Greenfield operation in Russia (Organic growth) - Oct 07
• APPENDIX
  • Methodology
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer