Orix Corporation, the Japanese firm which owns Dutch financial services group Robeco has announced that the financial holding Robeco Group will change its name to Orix Corporation Europe with immediate effect.
The name change is part of an ongoing restructuring process after Orix acquired 90% of the equity in Robeco Group in 2013 and subsequently bought the remaining shares in 2016.
The name Robeco stands for Rotterdamsch Beleggings Consortium and dates back to the group’s foundation in 1929.
Following the completion of the acquisition by Orix, Robeco Group was transformed from an operating company into a holding company. According to Orix, the restructuring intended to separate the holding activities and the asset management businesses of its member companies.
Orix stated that the name change would help to “..better reflect Robeco’s position within Orix group. The name change of the holding company will not impact the governance or the brands of the asset management companies within the holding” the holding company stated.
As part of the ongoing restructuring process, Robeco is also considering to outsource part of its operational activities, a spokesperson confirmed to InvestmentEurope last month, further details of the plans will be announced in the coming weeks.
By the end of 2017, Robeco has held €152bn in assets under management, of which almost a third in quant strategies.