French asset management boutique La Financière de l’Echiquier (LFDE) has completed the full acquisition of Primonial’s asset management activities (Stamina AM, AltaRocca) after both groups signed a strategic partnership at the end of November 2017.
The deal sees Primonial taking a 40% stake in LFDE. Christophe Mianné has been appointed chief executive officer of LFDE. Additionally, he will retain his roles of deputy CEO of Primonial, in charge of financial asset management.
Mianné will work alongside LFDE’s founders, Didier Le Menestrel, board chairman of LFDE, and Christian Gueugnier, deputy CEO of LFDE. He joined Primonial group in June 2017, having spent the rest of his career within Société Générale group. He has also been one of Lyxor’s founders.
Primonial’s commercial team will also join LFDE. With the acquisition of Primonial AM’s businesses, LFDE will have €11bn of assets under management and targets to speed up the distribution of its strategies outside France.