Paris, January 22, 2017
MACSF Epargne Retraite (Mutuelle d’assurance du corps de santé français) and French leading independent asset manager La Financière de l’Echiquier, through its AM incubator Ièna Venture have joined the Convictions AM group alongside La Française Group, which has been a shareholder of Convictions AM since its establishment in 2007.
Nicolas Duban, who retains control of Convictions AM, is appointed President as of January 1, 2017. He joined the company at the end of 2014 as Managing Director and acquired control on this occasion. Philippe Delienne, founder of the company in 2007 remains a shareholder, reducing his equity interest in order to allow the two asset managers to take capital participation.
Both shareholders will support Convictions AM’s new development project, which is built around the management process evolution initiated with Pierre Hervé arrival in 2015, who was appointed C.I.O in March 2016.
Convictions AM deploys a new strategic, multifactorial approach that has become the backbone of its management process and allows managers to develop their convictions serenely. A committee of experts gathering recognized personalities also enlightens the management team with their analyzes of the geopolitical, macroeconomic and monetary environment. Roger Caniard, Chief Financial Officer of the MACSF Group and Didier Le Menestrel, Chairman and CEO of La Financière de l’Echiquier join the Board of the Convictions Group, alongside Patrick Rivière and Thierry Sévoumians for La Française, Nicolas Duban (President), Philippe Delienne and Alain Wicker.
This transaction is subject to approval by the AMF (the French financial markets regulator).
Roger Caniard (Chief Financial Officer of the MACSF Group) declared : « Convictions AM has a unique expertise in multifactor investing and a management team that we have known for a long time. The evolution of the capital structure of Convictions and its Board will be an asset to take a new step in the growth of the company. We are very happy to accompany Nicolas Duban on this occasion « .
Didier Le Menestrel (Chairman and CEO of La Financière de l’Echiquier): « We are delighted to support Convictions AM in this new phase of development. The outstanding management skills of Nicolas Duban and the tremendous work achieved by Pierre Hervé on the core of the asset management process – the company’s driving force – convinced us; they both contribute greatly to the innovation dynamics of the French asset management industry. »
Patrick Rivière (CEO of La Française Group) declared : « We welcome the entry of MACSF Epargne Retraite and La Financière de l’Echiquier into the capital of Convictions AM, thus demonstrating the quality of the transition at Convictions AM, both in terms of management and asset management processes » Alain Wicker declared : « The team of Convictions AM which I hold in high esteem and which I welcome the reactivity in this difficult period for asset management, seems to have set a course of performance for its customers. «
Philippe Delienne declared : « I am particularly pleased to have been able to facilitate the transition for Convictions AM with the entry of high quality partners. This confirms the strategic relevance of the direction given to the company by Nicolas Duban. This will, I am sure, be very favorable for customers and for employees. «
Nicolas Duban declared: « With this step, we finalize the work undertaken to solidly establish the foundations of the new ambition that we want for Convictions AM. The presence at our side of these major players strengthens us and allows to accelerate the diffusion of our management solutions with the sole objective of customer satisfaction. «