M.M.Warburg & CO (AG & Co.) KGaA and NORD/LB Norddeutsche Landesbank Girozentrale will merge their Asset Management activities into a single company.
The new, medium-sized company with locations in both Hamburg and Hanover as well as assets under management and administration totalling more than €34bn will be one of the most important asset managers in Northern Germany.
Operational management of the new company will be assumed by Warburg Bank, which will take a 75.1% stake.
Warburg Invest KAG mbH and NORD/LB Asset Management AG will offer their primarily institutional clients customised solutions in both liquid and illiquid assets.
“With Warburg, we have a highly professional partner in asset management at our side,” said Hinrich Holm, deputy chairman of the Managing Board of NORD/LB and Chairman of the Supervisory Board of NORD/LB Asset Management. “NORD/LB customers will be offered an even broader range of products and services.”
The new company offers a broad range of asset management and servicing solutions. Alongside existing strengths, innovative strategies such as liquid alternatives and quantitative approaches are to continue to be expanded in future.