Société Générale Asset Management UK

The story of Société Générale Asset Management (SGAM) is one of strategic evolution within its parent, the French banking giant Société Générale, founded in 1864 by a group of industrialists led by Eugène Schneider. The bank established its first international office in London in 1871. The modern asset management entity, SGAM, significantly expanded its institutional investor activities in 1999. A pivotal moment arrived in late 2008 when, amidst a shifting financial landscape, Société Générale and fellow French bank Crédit Agricole decided to merge their asset management arms. This led to a final agreement on July 9, 2009, to combine Crédit Agricole Asset Management (CAAM) with the European and Asian activities of SGAM. The new entity, officially named Amundi, launched on January 1, 2010. Crédit Agricole initially took a 75% stake, with Société Générale holding 25%. This merger created a dominant European player, with the goal of serving the vast retail networks of both banking groups while offering a comprehensive suite of products to institutional clients. Société Générale's specialized ETF and alternative investment subsidiary, Lyxor Asset Management, which was founded in 1998, was initially kept separate from the deal. However, the story of consolidation continued. In 2021, in a move to streamline its own operations, Société Générale sold Lyxor to Amundi for €825 million. This acquisition further bolstered Amundi's scale, particularly in the fast-growing ETF market, making it the second-largest provider in Europe. The deal marked the conclusion of Société Générale's strategic refocusing, effectively folding its primary asset management legacy into the larger Amundi structure it helped create.