CA, SocGen property JV Amundi aims at aggressive growth

Amundi Real Estate, formed by the January merger of property asset management arms of French banks Crédit Agricole and Société Générale, aims to draw on both networks to double market share in France by 2015, says CEO Nicolas Simon. It is also targeting financial engineering solutions and specialised funds at French and international institutions. Owned 75% by CA and 25% by SocGen, Amundi RE has E5.2bn AUM, and operations in France, Italy, Japan, Morocco and Luxembourg. "Amundi intends to double its market share in the next five years and become a leading player in the private client market in France, with a market share of over 25%," Simon said. "It also plans to position itself as the first-choice partner for French and international institutional clients." (See upcoming PIE Editions for full story)