NongHyup Financial, Amundi France Hold NH-Amundi Asset Management Shareholders' Operating Committee Meeting

Amundi to Share Advanced Investment Processes and Expertise to Lead ESG Finance

[Asia Economy Reporter Yu Je-hoon] NongHyup Financial Group announced on the 23rd that it held a shareholders' operating committee meeting on the 19th at its headquarters in Jung-gu, Seoul, to review the growth strategy of Amundi France and NH-Amundi Asset Management and discuss mutual cooperation matters.

Amundi is the second largest shareholder of NH-Amundi Asset Management and is the number one asset management company in Europe with total assets under custody amounting to 2,313 trillion KRW (as of 2020).

The meeting was attended by Julien Fontaine, Managing Director in charge of Amundi Partnership, and Jean-Yves Glain, Deputy General Manager from France. This was their first visit to Korea in two years since the COVID-19 pandemic.

At the meeting, Kim Yong-gi, Vice President of the Business Strategy Division at NongHyup Financial Group, evaluated that based on the partnership between the two companies, NH-Amundi Asset Management's assets under custody surpassed 52 trillion KRW at the end of April, solidifying its position as the 7th largest comprehensive asset management company in Korea. He emphasized the need to secure future growth engines through strengthening overseas investment capabilities for continuous growth.

Accordingly, Amundi promised to expand sharing on global asset allocation strategies, fund selection, and credit research, and to support capacity building by providing overseas investment training programs for asset managers of NongHyup affiliates and inviting them to headquarters' investment strategy meetings.

Furthermore, to enable NongHyup Financial Group to lead the domestic environmental, social, and governance (ESG) finance market, Amundi agreed to actively cooperate in transferring its advanced ESG investment processes and know-how to NH-Amundi Asset Management.

NH NongHyup Financial Group stated, "We have decided to further strengthen our cooperative relationship with France's Amundi, which has diverse overseas investment experience and ESG investment capabilities, through this meeting," adding, "This will further empower our plan to foster overseas business and ESG as new growth engines at the group level."

This content was produced with the assistance of AI translation services.