New York Life Investments completed the acquisition of Dexia Asset Management, an international asset manager, with management centers in Brussels, Paris, Luxembourg and its investment boutique, Ausbil, based in Sydney, for EUR 380 million.
Dexia Asset Management joins New York Life Investments’ capabilities in fixed income, equities and alternative investments and adds $100 billion in assets under management, bringing New York Life Investments’ total assets under management to $511 billion.
Naïm Abou-Jaoudé will continue in his role as chief executive officer and chairman of the executive committee of Dexia Asset Management and Paul Xiradis will remain chief executive officer of Ausbil. Yie-Hsin Hung, in addition to her current role as co-president of New York Life Investment Management and chairman of New York Life Investment Management International, becomes chairman of the board of directors of Dexia Asset Management.
In other industry news:
Creative Marketing has rebranded as CreativeOne while still catering to the annuities, life insurance and securities industries.
Creative Marketing was purchased from Aviva USA in a transaction that closed Oct. 1, 2013.
“Our new name communicates our conviction and vision to be the Most Trusted Independent Partner to Maximize Your Potential as a financial services provider,” the company said in its announcement. “We are OneTeam with OneVision and OneVoice working diligently on behalf of our producers.”
In the three months leading up to the rebranding, the firm:
- Entered into a new exclusive product distribution agreement: Allianz Preferred;
- Entered into a new partnership with EquiTrust Life to provide producers its complete line of fixed annuity products;
- Launched a new Integrated Financial Services (IFS) division dedicated to serving the life insurance and security needs of Registered Investment Advisors (RIAs) and Investment Adviser Representatives (IARs);
- Opened a new office in Phoenix-Scottsdale, Ariz. — CreativeOne-West;
- Launched the most comprehensive annuity product database in the industry: Annuity Solutions PRO.
LIMRA launched a new training program designed for new recruits that leverages the core tenets of the Trustworthy Selling program.