Interview with Dominique Carrel-Billiard

DOMINIQUE CARREL-BILLIARD, HEAD OF THE INSTITUTIONAL AND CORPORATE CLIENTS DIVISION

Long-term oriented flows

How did Amundi fare with its Institutional, Sovereign and Corporate clients in 2018?
Amundi has once again strengthened and deepened its relationships with its clients. We have made significant progress with sovereign entities and large supranational organizations, and won several prestigious mandates, including one with the National Treasury Management Agency. We have also developed our relationships with insurance companies, especially in Germany and Japan. With regard to Corporate clients, we remain the European leader for liquidity solutions, even if the year was contrasted. We have also made major inroads with corporate pension funds, and, more generally, on retirement and employee saving schemes. Overall, beyond simply growing our assets under management, we have strongly improved the quality of our fundraising. In 2018, most of our net flows came from our middle- and long-term investment solutions, equally split between large and medium-sized mandates. This results in increased profitability and a more granular and resilient book of business.

How did Amundi respond to the changes in the market environment?
Structurally, Institutional clients all face the same problem: how to optimize the combination between financial return, risk and the total cost of managing investments in a volatile environment? Amundi strives to help them reconfigure their value chain to achieve the best possible outcome. To that end, we offer them a broad set of investment solutions including absolute return strategies, overlay management, risk-factor or illiquid asset strategies, or more recently, Credit Continuum-type solutions, that help optimize allocations across several categories of liquid and illiquid underlying assets within a given asset class.

What are your ambitions for 2019?
Above all, we want to help our clients weather difficult market conditions. Beyond evolving our offering and launching new solutions, in the areas of real assets, employee savings or ESG* in particular, this implies that we will continue to increase productivity, in order to retain our competitiveness, and we will keep developing our outsourcing solutions. Regarding our geographic coverage, the US institutional market is a priority in 2019; we will also pursue our development in Northern Asia and Japan – with insurance companies – and in Europe, with medium-sized clients. On a broader scale, we will capitalise on our existing client relationships, by increasing the number of Amundi products they hold, and reinforcing our relationships with investment consultants, who are key intermediaries in some of our markets.

“Above all, we want to help our clients weather difficult market conditions.”​ Dominique Carrel-Billiard