French asset manager UFG-LFP becomes La Française AM

MetamorphosisParis-based asset manager UFG-LFP, which is owned by the French bank Crédit Mutuel Nord Europe, is changing its name to La Française AM to emphasise its French history as it seeks to expand internationally.

The two parts of the company are Union Française de Gestion (UFG), a real estate asset manager, and La Française des Placements (LFP), which invests in securities. They merged in 2009.

Patrick Rivière, CEO of the group, said: “It’s the right time to change our name, to have a more recognizable and memorable brand that better reflects our vision and values at a time when we are laying the foundations for international development.”

©2011 funds europe