Fund giants agree merger to form £290bn asset manager

Anna Fedorova
clock

Pioneer Investments has reached an agreement to merge with Santander Asset Management, creating one of the largest European asset management groups by AUM.

The two fund giants will merge to create a global house with combined assets under management of €400bn (£287bn). The new company will operate under the Pioneer Investments brand and will rank among the top 35 firms globally, and top ten in Europe, by assets under management. Juan Alcaraz, current chief executive of Santander Asset Management (SAM), will become the global chief executive, while Giordano Lombardo (pictured), current chief executive and group CIO of Pioneer Investments, will be the global CIO of the new firm. Italian bank UniCredit, which owns Pioneer, commented: "Bu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Chancellor unveils 50% relief

Cristian Angeloni
clock 30 October 2024 • 1 min read
Cash in Conversation: A poll for financial advisers

Cash in Conversation: A poll for financial advisers

Professional Adviser
clock 29 October 2024 • 1 min read
The challenges and opportunities for active managers

The challenges and opportunities for active managers

'We believe good active managers always have a place in a portfolio'

Darius McDermott
clock 29 October 2024 • 5 min read