La Banque Postale is accelerating its asset management strategy. The banking group has announced plans to merge LBP Asset Management (LBP AM) with its subsidiary La Financière de l'Échiquier (LFDE), creating a new entity named LFDE Investment Managers (LFDE IM).

The transaction aims to establish a major European active asset management player, combining expertise in listed and private assets, sustainable finance, and innovative investment solutions. Following completion, the new company would remain owned 75% by La Banque Postale and 25% by Aegon Asset Management.

More Than €72 Billion in Assets Under Management

The combined entity would oversee more than €72 billion in assets under management, employ 370 professionals, including 130 investment specialists, and already maintain a distribution presence across 12 countries.

The merger follows a series of strategic developments. Since joining LBP AM in 2023, La Financière de l'Échiquier has strengthened its position as a leading European conviction-equity manager, reaching nearly €26 billion in assets under management as of April 2026. Meanwhile, LBP AM has continued to expand its expertise across fixed income, quantitative strategies, multi-asset solutions and European private markets.

Accelerating External Client Growth

In an increasingly competitive and consolidated asset management industry, the new group aims to strengthen its appeal among institutional investors, wholesale clients, wealth advisers and international investors.

To achieve this, LFDE IM will focus on three key growth drivers:

• private assets;

• value-added fixed income strategies;

• international expansion.

The LFDE brand, recognized for its entrepreneurial culture and client-centric approach, will become the commercial identity of the new organization.

A Stronger European Ambition

Beyond combining capabilities, LFDE IM intends to broaden its investment offering by leveraging the historical strengths of both firms and more than thirteen years of experience in European private markets.

For La Banque Postale, the merger represents a strategic opportunity to enhance the visibility of its asset management business and accelerate its development across Europe.

Completion Expected by the End of 2026

The proposed transaction remains subject to employee representative consultation procedures, corporate approvals, and the necessary regulatory and administrative authorizations.

Subject to receiving all required approvals, LFDE Investment Managers is expected to become operational by the end of 2026.