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Xavier
Musca
Chairman of the Board
of Directors, Deputy Chief
Executive Officer of Crédit
Agricole S.A.
I
n its first year as a listed
company, Amundi, Europe’s
leading asset manager
(1)
,
achieved all of the commercial
and financial goals it had set.
In 2016, Amundi continued
to develop; its business activity
remained robust, and it achieved
a steep increase in revenues
and net income.
These performances reflect well on
Amundi’s strategy and business model,
under which it has continued to grow
in a still-uncertain global environment.
Its earnings growth combined with
a solid financial structure also allows it
to offer its shareholders an attractive
dividend payout. The dividend submitted
this year for shareholder approval
at the Annual General Meeting will
be up by more than 7% from the
previous year and equivalent to 65%
of consolidated net profit.
In December 2016, Amundi announced
the acquisition of Pioneer Investments,
the asset management arm of the
Italian group UniCredit. This deal, which
is expected to close late in the first half
of 2017, aims to consolidate Amundi’s
leadership and make it one of the
industry’s top global players. It comes
with a strategic long-term partnership
with UniCredit for distributing savings
solutions to its customers.
This acquisition is part of Amundi’s
selective external growth strategy
announced upon its November
2015 IPO. It will make Amundi one of
the world’s top 10 asset managers,
with total AuM of €1.3 trillion.
Its considerable synergies will also
create significant value for Amundi
shareholders.
Amundi’s internal and external growth
strategy is an integral part of Crédit
Agricole S.A.’s development plan.
The Crédit Agricole group has made
savings management one of its
priorities by developing an enhanced
approach to customer advisory, which
is one of the hallmarks of its full-service
local banking strategy.
“In 2016, Amundi
successfully
implemented
its development
strategy.”
(1) No.1 European asset manager based
on global assets under management (AUM)
and headquartered in Continental Europe –
Source IPE “Top 400 asset managers”
published in June 2016 and based on AUM
as at December 2015.
2016 Corporate Social Responsibility Report
02
AMUNDI
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2016 Corporate Social Responsibility Report