The distribution strength of La Banque Postale combined with Aegon Asset Management's broad and international investment capabilities will serve the investment needs of both La Banque Postale's 11 million retail clients and its growing institutional client base.
The opportunity to create a strategic partnership with La Banque Postale supports Aegon's strategy to grow and diversify its customer base and to provide fee-based, capital-light products. It also represents a significant step in implementing Aegon Asset Management's strategy to expand its services and solutions for third-party customers internationally.
The two companies will work together to further strengthen the development of La Banque Postale Asset Management, which will offer a comprehensive range of products – including international equity and multi-asset investment products.
These products will be distributed through La Banque Postale's network of approximately 17,000 points of sale, online and by its institutional sales team. The partnership will materialize through a 25% stake in La Banque Postale Asset Management held by Aegon Asset Management.
Aegon and La Banque Postale expect to conclude negotiations in the first quarter of 2015.
About La Banque Postale
La Banque Postale, a subsidiary of Le Groupe La Poste, operates in retail banking, insurance and asset management. As a civic-minded bank, it supports its customers as part of a sustainable banking relationship, with a full range of accessible and high-quality products and services. As a local and public service bank, La Banque Postale meets the needs of a wide range of customers, from retail and companies to professionals and the local public sector. Different customer needs are met by providing services through the national network of post offices, by telephone and online. Further information at www.labanquepostale.com
About Aegon Asset Management
Aegon Asset Management is a global, active investment manager. Aegon Asset Management uses its investment management expertise to help its clients manage their financial future, with a focus on excellence, trust and partnership. Investors worldwide entrust Aegon Asset Management to manage approximately EUR 290 billion on their behalf. Positioned for success in its chosen markets – Europe, North America and Asia – Aegon Asset Management's specialist teams provide high-quality investment solutions across asset classes. Further information at www.aegonassetmanagement.com