Acquisition of majority stake in NORD/LB Asset Management AG by Warburg Bank completed
- Warburg Invest KAG mbH and NORD/LB Asset Management AG to be merged into a holding company
- Shared branding as Warburg Invest
Hamburg/Hanover, 30 November 2018 – The acquisition agreed at the beginning of the year of the asset management activities of NORD/LB Norddeutsche Landesbank Girozentrale by M.M.Warburg & CO (AG & Co.) KGaA has now been completed. The approvals and required resolutions were obtained as of 30 November 2018. Warburg Invest KAG mbH and NORD/LB Asset Management AG will merge their operations within a holding company. Upon entry into the commercial register, NORD/LB Asset Management AG will trade as Warburg Invest AG.
The Warburg Invest capital investment companies pool the management of Warburg Group’s liquid assets, which run to a volume of more than EUR 37 billion in assets under management and administration. The acquisition is therefore creating one of the largest asset managers in northern Germany. Some 130 staff are employed at the two locations in Hamburg and Hanover. Warburg Bank is taking over the management of the holding company having acquired 75.1 per cent of the shares in NORD/LB Asset Management. NORD/LB will retain a 24.9 per cent stake in the holding company.
“Warburg Invest stands out among its market peers as a highly competitive medium-sized asset manager with an entrepreneurial leadership team and a clear ownership structure featuring a small number of German shareholders. Our objective is to become one of the ten largest asset managers in Germany by liquid assets,” comments Joachim Olearius, Spokesperson for the partners of Warburg Bank. “Successfully completing the merger of the asset management activities of NORD/LB and Warburg Bank marks an important step in this direction. It enables us to offer our clients a wider range of individually tailored investment solutions and services. Our clients will continue to be assisted and advised by their trusted contacts and experts at Warburg Bank with an experience across all asset classes.”
“The new structure not only creates a broader-based team of staff whose skills will complement each other superbly, it will also deliver greater stability and assist us in better meeting supervisory requirements. What’s more, the new organisation will enable us to help shape asset management for the next generation”, explains Dr Hinrich Holm, Deputy Chairman of the Managing Board of NORD/LB and Chairman of the Supervisory Board of NORD/LB Asset Management.
The two asset management firms will press ahead with the integration process over the coming months. This will also entail harmonisation of the products and strategy approaches within liquid asset management. Thanks to the merger, clients of both companies can look forward to an even greater range of individual solutions and numerous new investment strategies. These include strategies such as liquid alternatives or quantitative approaches. As both Warburg Invest and what was until now NORD/LB Asset Management have outstanding skills in the sustainable investments space, this high-growth area will be a cornerstone of the new company. Furthermore, there are plans to continue expanding the segment of investments in German and European small and mid caps, in which Warburg Group traditionally has a strong presence.
Owing to their regional proximity and a similar investment philosophy, there have been strong ties between Warburg Bank and NORD/LB for decades. The asset management firms Warburg Invest and NORD/LB Asset Management specialise in offering their clients bespoke solutions, which they create and develop in tandem with clients as part of a personal working relationship. The focus is on offerings for medium-sized enterprises and institutional investors. Both firms have many years of experience, outstanding investment skills that have earned numerous awards and also high client satisfaction ratings.
Over the past few years both Warburg Invest and NORD/LB Asset Management have posted strong growth. The total volume of assets managed by Warburg Invest climbed by some 60 per cent between end-2015 and end-2017, with NORD/LB Asset Management also turning in a positive performance over this period. The aim is to maintain growth with a view to achieving a notable increase in assets under management and administration on a medium-term horizon.
Subject to approval by the supervisory authorities, the Managing Board of Warburg Invest AG will be made up of the existing members of the Managing Board of NORD/LB Asset Management AG, Carsten Schmeding (Chairman) and Andreas Lebe, as well as the directors of Warburg Invest Kapitalanlagegesellschaft mbH, Matthias Mansel and Caroline Specht.
M.M.Warburg & CO
Martin Wehrle, Head Communication
Tel.: +49 40 3282-2235
Thies Jonas, Consultant Communication
Tel.: +49 40 3282-2165
Dr. Thomas Klodt, press officer
Telefon +49 511 361 2758
NORD/LB Media and Communication