KBI rebrands as KBI Global Investors as Amundi deal is approved

Kleinwort Benson Investors (KBI) has rebranded as KBI Global Investors (KBIGI) after its agreement with Amundi Asset Management and Oddo & Cie was finalised today.

KBI’s agreement, whereby Amundi would take a majority 87.5% shareholding in KBI, the KBI management team and a number of the firm’s key employees simultaneously acquiring the remaining 12.5% was originally announced on 23 May. Since then the Dublin-based asset management boutique has been undertaking a rebrand and has chosen the name KBI Global Investors as its new company title.

Regulatory approval for the transaction was granted by the Central Bank of Ireland on 28 July, with the deal closing today.

In a statement released late on Wednesday the company said that as a brand KBI is established, in both domestic and international markets; however, due to the sale and subsequent break-up of the wider Kleinwort Benson Group, and the completion of the transaction with Amundi, it has meant that the firm is unable to continue trading under this banner alone.

However with the rebrand as KBI Global Investors (KBIGI), the company is confident that it will continue to identify the firm clearly in international markets, the statement said.

Staff shareholders

Sean Hawkshaw, chief executive at KBI Global Investors, said that he was pleased that now that the deal is officially concluded, many of the company’s key staff are now shareholders in the firm, which he believes will see renewed continuity and stability in the business.

“While the name is important in many ways, our culture is also our brand, and that is not going to change,” he said. “In that respect we will remain absolutely focused on meeting and exceeding our clients’ expectations in terms of investment performance and product.”

KBIGI operates both in the institutional and private client death management marketplace and has  clients across the globe from those in North America, Asia and Europe – to the Shetland Islands, Seoul and Sydney.

Boston office

It recently opened a new office in Boston earlier this year to service its clients and support its growth strategy and to “build out its North America footprint”, with a number of appointments expected in the months ahead, Hawkshaw said.

Amundi, Europe’s largest asset manager with more than one trillion in AUM globally, have a presence in some 30 countries, across five continents, with significant infrastructure in both Asia and Europe. Hawkshaw said that his team said are “excited at the myriad of possibilities” and sees a fantastic opportunity to work with the Amundi teams “on the ground”, to access regions where the firm currently has no client presence, with the Middle East and South America amongst them.

“We have delivered consistently good long-term performance over the years,” said Hawkshaw. “With growing interest in responsible investing amongst both institutional and retail investors, we see a bright future as we move into new markets and as part of Amundi.

“I am confident that Amundi will prove to be a tremendous long-term partner. We are all looking forward to an exciting future as KBI Global Investors,” he said.

Gary Robinson
Head of Video and Ezines at Open Door Media Publishing. Deputy Editor, International Investment. An experienced journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as a fully qualified IFA, Gary works across both International Investment and InvestmentEurope titles. Previous video production credits include projects on BBC, C4 and SKY.

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