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Europe’s asset management consolidation wave has a new postal twist: La Banque Postale is merging LBP AM with its wholly owned subsidiary La Financière de l’Échiquier to create LFDE IM, combining a 26€ billion active equity boutique with a broader multi-specialist platform spanning listed and private markets. The new entity will be 75% owned by La Banque Postale and 25% by Aegon AM, and will oversee around 72€ billion in assets with 370 employees across 12 countries. The deal is designed to accelerate growth in an increasingly competitive and consolidating European market by leveraging complementary strengths in active equities, value-added fixed income, and private markets, while pushing harder into international distribution across institutional, wholesale, and IFA channels. Stéphane Dedeyan, Chairman of the executive board of La Banque Postale said: “In an increasingly consolidated industry, marked by a proliferation of offerings and rapidly evolving investor expectations, this merger project is fully aligned with the development strategy of La Banque Postale, a subsidiary of Group La Poste. It will serve as a powerful lever for consolidation and acceleration of its asset management business.” You could say they are looking to push the envelope!