After the failed merger operation with Pioneer Investments, the Chilean unit of Santander Asset Management is now working on reinforcing its investment team, starting with the entry of Héctor Godoy as head of equity.
Pioneer Investments to be purchased by Amundi for USD 4.1 billion
With over EUR 1 trillion in assets, Amundi is ranked the world’s 12th-largest asset manager. The Pioneer deal would turn it into the world’s eighth-largest asset manager, according to main shareholder Credit Agricole SA of France, handling EUR 1.3 trillion in assets.
Amundi shows interest in Pioneer acquisition
Pioneer manages EUR 220 billion and employs 2,000 people in 28 countries. It has Latam offices in Miami, Santiago de Chile and Mexico City.
UniCredit and Santander terminate talks to merge asset managers
The planned tie-up using the UniCredit's Pioneer Investments trademark had created uncertainty in Latin America, given Santander's strong brand recognition in Brazil, Mexico, Argentina and Chile.
Santander Asset Management will be known as Pioneer Investments after pending merger
Of interest to market observers is how Santander Asset Management's Latin American fund operations will be impacted, considering that these units are attached at the hip to their related retail banking operations, on which the asset manager depends for distribution.
Unicredit considers sale of Pioneer Investments to Santander
The potential deal would see Santander Asset Management and Pioneer Investments merged into an entity which would have around USD 440 billion in assets under management.