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Lyxor has completed the integration of Commerzbank’s asset management business which includes €16 billion of assets under management and the ComStage suite of ETFs.
Lionel Paquin, CEO of Lyxor Asset Management.
As part of the integration, Lyxor has opened an asset management branch in Frankfurt – its first outside of France – which it is calling Lyxor Deutschland.
The branch combines Lyxor’s own active and passive investment activities in Germany with Commerzbank’s asset management operations, all under one roof.
Lyxor has been present in Germany since 2010 and has said that it intends to leverage the newly acquired local expertise to expand its range of investment solutions in Germany and neighbouring Austria.
The branch will be jointly managed by Guillaume de Martel and Thomas Timmermann who have been appointed co-heads of Lyxor Deutschland. De Martel will be responsible for portfolio management and product development, while Timmermann will look after sales and marketing.
The combined entity offers one of Europe’s largest ETF product ranges, with over 300 funds across ‘core’, ESG, thematic, smart beta, fixed income and commodity exposures.
Some overlapping ETFs are set to be merged to create larger and more liquid products. The merger plan has been designed to mitigate any negative impact for existing ComStage investors, avoiding fund re-domiciliation and closures. It should be completed by mid-2020.
Commenting on the announcement, Lionel Paquin, CEO of Lyxor Asset Management, said, “With a platform founded on ETF expertise and innovation, active asset management and a deep understanding of the German retail market, I am convinced that together we will be even better placed and better equipped to support our clients as their needs evolve”.