La Banque Postale Asset Management (LBPAM) has announced the full integration of Tocqueville Finance, another subsidiary of La Banque Postale group focused on equities.
The move was unveiled in French newspaper Les Echos. Following regulatory approval from AMF, Tocqueville Finance, acquired in 2009 by La Banque Postale, will bring €2bn to LBPAM that will hold 97% of the firm.
LBPAM had previously merged with Federis Gestion d’Actifs in April 2016. It recently announced its will to become the first full French SRI asset manager by 2020.
Tocqueville Finance was established in 1991.