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Natixis asset manager targets institutional clients

Date: Thursday, March 6, 2008
Author: Cardiff de Alejo Garcia, Financial News-us.com

Natixis Global Asset Management has appointed both a president and a chief operating officer for a new division that targets institutional clients, as it separates its institutional and retail businesses.

The institutional services division will exclusively serve institutions such as pension schemes, endowments and foundations.

The asset manager said in a statement that the division will provide a single point of access for institutional clients to invest through its many investment management boutiques.

Peter Martin, previously head of the Americas for a Natixis affiliate, will be president of the new division and will oversee all its activities. Martin will report to John Hailer, chief executive officer of asset manager in the US.

The retail side of the business has been able to exploit "our affiliated money managers through a single point of access," Hailer said. The new division will extend that approach to the institutional side.

Spiro Christopulos was named chief operating officer of the institutional division and will report to Martin. Christopulos is currently chief financial officer for a Natixis subsidiary and will move to his new role within the next several months.

Last month Natixis purchased US asset manager Gateway Advisors for an undisclosed amount.

Gateway, which has about $7.9bn (€5.19bn) under management, specializes in equity funds that use derivatives to hedge against declines in the stock market. It became the thirteenth Natixis investment boutique in the US.

At the end of last year, the asset manager had $869bn in global assets under management.

The asset manager is part of Natixis, the jointly held bank of the Banque Populaire and Caisse d’Epargne groups.