The world’s fifth largest insurance group, Aviva , has launched its new asset management business, Aviva Investors.
First announced in February, Portfolio Partners along with 10 other asset managers owned by Aviva will now operate under the one brand. According to the group, Aviva Investors will manage more than $488 billion in over 21 locations globally.
The businesses coming together under Aviva Investors include Portfolio Partners (Australia), Aviva Gestion d’Actifs (France), CUIM Polska (Poland), Hibernian Investment Managers (Ireland), Aviva Capital Management, MFM International, Aviva Investment Canada (America), CertInvest (Romania) and Morley (United Kingdom).
The newly-formed group has also made its first acquisition, buying Madison Harbor Capital in the US.
Aviva chief executive Alain Dromer said the launch marked the transformation of Aviva Investors into a “global investment powerhouse”, adding that the recent market turmoil highlighted the benefit of operating globally.
“This is not just re-branding. It is a radical change driven by the value that we can deliver to our clients. It’s about creating a new approach to asset management for Aviva and building a dynamic new business that can provide truly global investment solutions.”
Aviva Asia Pacific chief executive officer Craig Bingham said the new group’s global reach would allow them to create and distribute a range of specialist investment solutions within the Asia-Pacific region.
“By integrating our operations, Aviva Investors can take the best of our products and services from around the world and bring innovation to new and existing customers,” he said.
“We have already established an operation in Singapore and are seeking a presence in other key markets throughout Asia.”
