Natixis separates from its H2O subsidiary and cuts its costs

Posted on Nov 5, 2020 at 5:51 p.m.Updated Nov 5, 2020, 7:16 PM

It is a key episode in the series with twists which agitates the financial center for months. Natixis announced Thursday evening that it wished to part ways with British management company H2O. Discussions have been initiated between the two parties ” on a possible gradual sale of Natixis IM’s stake in H2O AM and on an orderly resumption of distribution by the management company over a transition period until the end of 2021 ยป, Declared the BPCE subsidiary in a press release. Natixis owns 50.01% of the capital of its affiliate.

With the announcement of this disengagement, the group wishes to end the H2O episode which posed a real reputational risk. The British company, renowned for its risky bets and high performance, has long been Natixis’ cash machine in asset management. Last year, it contributed around 210 million euros to Natixis’ results, out of a total of 1.9 billion, even though it only weighed 2.3% of outstandings.

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