Natixis IM loses one of his key men

    with La Banque Postale AM. A major project that aims to consolidate on the same platform nearly 400 billion outstanding in insurance management, in a context marked by low rates of return and pressure on the margins of asset managers. Natixis must maintain control of this activity. The two figures of this operation are now on the starting line: Daniel Roy, who then ran LBPAM, has since joined Generali.

Philippe Setbon, the current managing director of Groupama Asset Management, who will be heading Ostrum over the next few weeks, have learned Les Echos from several sources, confirming L'Agefi's information.

These changes come as questions arise over Natixis IM's multi-store model: its star affiliate in the UK, H2O AM, has
a crisis of confidence during the summer

   . In one week, investors have withdrawn 30% of the assets of its funds and more than a third over the whole of June, or 6.5 billion euros. Natixis IM has since launched an audit at its affiliate and is considering a reorganization of the risk management chain for all its stores.

Matthieu Duncan arrived in 2016 at Ostrum, still called Natixis AM. Under his leadership, Ostrum has refocused on fixed income management, which accounts for 85% of its outstandings. Several activities, including investment solutions, were taken over directly by Natixis IM.

Following these developments, Ostrum started last year
a cure of austerity

   , which was to result in the departure of about fifty people. Last spring, Matthieu Duncan joined the office of the French Financial Management Association, as vice-president in charge of international affairs. A position that has brought him close to Philippe Setbon, also vice-president of the AFG.