French banking and insurance group La Banque Postale plans to merge its two asset management companies, LBP AM and its wholly owned subsidiary La Financière de l’Échiquier, creating a €72bn (£62.5bn) asset manager as part of a private markets expansion strategy.
The merger will combine LBP AM’s private markets and broader asset management capabilities with the equity expertise of La Financière de l’Échiquier into a single entity, named LFDE Investment Managers (LFDE IM), creating a multi-specialist active asset manager.
LFDE IM will manage €72bn in assets, employ 370 staff including 130 investment professionals, and operate across 12 countries as of the end of April 2026.
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According to La Banque Postale, the merger will help accelerate the firm’s growth in France and internationally, with a focus on three key areas: private assets, value-added fixed income and international client acquisition.
“In an increasingly consolidated industry, marked by a proliferation of offerings and rapidly evolving investor expectations, this merger project is fully aligned with the development strategy of La Banque Postale, a subsidiary of Group La Poste,” said Stéphane Dedeyan, chairman of the executive board of La Banque Postale. “ It will serve as a powerful lever for consolidation and acceleration of its asset management business.”
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Upon completion of the merger, LFDE IM will remain 75 per cent owned by La Banque Postale and 25 per cent owned by Aegon AM, the firm said.
“This project will enable us to bring together our listed and private markets expertise within a unified organisation,” said Emmanuelle Mourey, chairwoman of the executive board of LBP AM. “It will also strengthen our growth drivers while accelerating our international expansion.”
