The company’s name will remain BAWAG P.S.K.INVEST, with a reference “Member of the Amundi Group”.
In addition, Amundi and BAWAG P.S.K. entered into a long-term partnership where
BAWAG P.S.K. will distribute Amundi’s funds and continue to distribute INVEST products
via its physical and digital distribution networks. BAWAG P.S.K. has the largest centrally
managed branch network with 500 branches across Austria. Amundi will continue to operate
INVEST in Austria.
“We are very proud of this partnership with Amundi, one of the best Asset Managers in the
world”, said Byron Haynes, CEO of BAWAG P.S.K. “By executing this transaction, we are
able to simplify our Bank and focus on our core franchises – retail banking & corporate
lending. At the same-time, by entering into a long-term distribution partnership with Amundi,
we can continue to offer a broad range of fund products to our customers. Overall, this is a
win-win situation for all parties and in line with our strategy of transforming BAWAG
P.S.K.”
“This acquisition of INVEST and the long term partnership with BAWAG PSK allow us to
establish a strong local footprint in Austria and to access to one of the strongest franchises in
retail distribution” adds Yves Perrier, Chief Executive Officer of Amundi. ”This transaction
highlights our recognized expertise as a partner of choice to provide savings solutions to the
customers of banking networks”
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