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Amundi rebrands US business after Pioneer merger

Amundi rebrands US business after Pioneer merger

Amundi has rebranded its US business Amundi Pioneer Asset Management after combining Pioneer Investment Management USA in Boston and Amundi Smith Breeden in Durham, North Carolina.

The newly named business comes following confirmation of Amundi and Pioneer's merger and will represent the European asset management firm's US enterprise. 

The move will strengthen Amundi's recognition in US offshore and Latin America, and its US domiciled product range, as Amundi Smith Breeden was largely a fixed income shop. The combined unite will manage $82.57 billion in assets.

The US management team, as previously announced, will be led by Lisa Jones as chairman, president and chief executive.

Patrice Blanc, previously chief executive of Amundi Smith Breeden, has been named chief operating officer. The group named Ken Taubes, previously CIO of Pioneer in the US, as the CIO of US investment management for Amundi and Amundi Pioneer.

The US management team will also oversee Amundi’s operations throughout Latin America and Canada and have offices in Boston, Durham, Buenos Aires, Mexico City, Miami, Montreal, and Santiago.

The merger of Amundi and Pioneer Investments closed on Monday, July 3, making Amundi a €1.2 trillion ($1.3 trillion) asset manager.

In mid-June, it outlined a number of structural changes including the exit of Pioneer’s chief executive and CIO Giordano Lombardo.

In a statement from Amundi, Jones said, 'In bringing together Pioneer and Amundi Smith Breeden, we are combining organizations that share similar investment philosophies and corporate cultures and that value teamwork across a collegial, collaborative environment.

'Collectively we share an intense focus on meeting the needs of our clients and look forward to continuing to deliver innovative investment solutions.’

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