Oddo BHF, a Franco-German financial group, has combined its asset management businesses in Germany- Oddo BHF Asset Management (Oddo BHF AM) and Frankfurt-Trust Investment.
The integration creates a business with around €61bn in assets, making Oddo BHF the third largest independent asset manager in Europe.
Through the merger, the group plans to enhance its capabilities in equities, fixed income as well as asset allocation.
ODDO BHF AM now has three investment centres in Paris, Dusseldorf and Frankfurt and a workforce of about 300.
The former CEO of Frankfurt-Trust Investment Karl Stacker has been appointed as managing director at Oddo BHF AM.
“With the merger we will intensify our positioning as a long-term partner for our clients providing high-quality services in every respect,” Stacker noted.
ODDO BHF Asset Management global CEO and co-CIO Nicolas Chaput said: “We now share one identity, one brand, one organization, one combined unique product range offering a wide spectrum of expertise to our clients. With that we intent to expand the premium partnership with wholesale clients while further deepening the relationship with institutional clients.”
The latest deal comes shortly after Oddo BHF’s acquisition of French private equity firm ACG Capital.