Armenia’s regulator approves appointments at fund-running companies

11.12.2013 16:53
Armenia’s regulator approves appointments at fund-running companies

YEREVAN, December 11. /ARKA/. The Central Bank of Armenia has approved the nomination of heads of AMUNDI-ACBA ASSET MANAGEMENT CISC and C-QUADRAT AMPEGA ASSET MANAGEMENT LLC and has given licenses to these companies authorizing them to run the investment fund and pension funds, the regulator’s press office reported on Wednesday.

Stepan Gishyan, Christain Piere Noel Romeyen and Olivier Andre Mari Desnos are members of the board of AMUNDI-ACBA ASSET MANAGEMENT and Phillipe Claude Russaud is the company’s executive director.

Ernst Ludwig Dreiss, Andreas Wimmers and Martin Graz are members of the board of C-QUADRAT AMPEGA ASSET MANAGEMENT and Arman Vardanyan is the board chairman.

AMUNDI ASSET MANAGEMENT, one of two founders of AMUNDI-ACBA ASSET MANAGEMENT, holds 51% of the company’s shares, and 49% belong to ACBA-CREDIT AGRICOLE BANK, the other founder.

AMUNDI ASSET MANAGEMENT, established by Crédit Agricole (75%) and Société Générale (25%) has offices in 30 countries and more than 100 million clients. Its assets total about $1 trillion.

ACBA-Credit Agricole Bank was established in 1995 as part of European Union’s TACIS program. In September 2006, CREDIT AGRICOLE Group became the biggest shareholder of the bank by making large investments in the capital.

C-QUADRAT AMPEGA ASSET MANAGEMENT is a joint company of С- QUADRAT Investment AG (Austria) – 74.9% and Talanx Asset Management GmbH (Germany) – 25.1%. It runs assets of $6 billion in 17.

Talanx Asset Management GmbH is a member of Talanx Group, the third biggest insurance corporation in Germany.
Talanx started functioning more than one century ago. It is running assets exceeding $180 billion in 150 countries. M.V.----0----

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