Natixis Interépargne, one of France's market leaders in employee savings and pensions, has announced the signature of a memorandum of understanding with HSBC, with a view to acquiring the account holder HSBC Epargne Entreprise (HEE), France's 9th largest player.

This acquisition will be accompanied by a marketing and services agreement between HSBC Global Asset Management (France) and Natixis Interépargne.

Natixis Interépargne will thus become the account keeper for HEE customers - the 9th largest French player in the employee savings sector by number of accounts - enabling them and their 210,000 savers to benefit from the services offered by the Natixis Interépargne platform.

Philippe Setbon, Chief Executive Officer of Natixis Investment Managers, in charge of asset and wealth management for Groupe BPCE's global businesses, comments: 'This major acquisition project will enable Natixis Interépargne to strengthen its leadership and that of Groupe BPCE in employee savings and pensions, in a fast-growing market. Natixis Interépargne's expertise and quality of service are major assets that will bring complete satisfaction to the customers who will access our services.

Damien Cléris, Chief Executive Officer of Natixis Interépargne, adds: 'This project demonstrates Natixis Interépargne's ability to seize external growth opportunities to accelerate its development and forge distribution and service partnerships, enabling other players to draw on a recognized offering, proven customer service and innovative capacity to support customers'.

Copyright (c) 2024 All rights reserved.