Interview with Pascal Blanqué
Pascal Blanqué, Chief Investment Officer
Developing Synergies and Breaking Silos
A new organisational model was implemented last year. What are its main assets?
The key concept behind our new organisation is the integrated investment platform. Each platform now pools together all the components of our value chain, from those that contribute to performance generation – portfolio managers, analysts, portfolio construction – to those that directly serve our Institutional and Retail clients, through investment specialists. Each of our investment platforms has its own perimeter (in terms of investment universe, strategy or investment approach), but all share common goals: deliver the expected performance and contribute to Amundi’s growth. Their real strength lies in the fact that they are “empowered” and accountable. They have also reached critical size on all the asset classes they cover.
What has been done in 2018 to make these platforms even more effective?
We have implemented several initiatives to break silos and develop synergies between areas of expertise within the Group. We have started to deploy the concept of a worldwide cross-platform research and fundamental analysis network. This has already enabled us to have our Fixed Income (in Paris), Emerging Markets (in London) and US Expertise (in Boston) platforms work together for the benefit of all our global fixed income strategies. Structured exchange schemes, such as business reviews, seminars or cross-platform initiatives, are now helping to strengthen our investment community and reinforce its identity. We have also begun to work on clarifying and structuring our “performance culture”, which is crucial for our Group.
What is primarily at stake in 2019?
In a market environment that is tougher and will be so for some time, our investment strategies need to increase their ability to generate performance and to let it be known. So we are going to continue to capitalise on our know-how and step up our development in priority areas, such as non-directional strategies, which fit the new market context. We will also reinforce highpotential expertise, such as those we have developed on thematic solutions, illiquid assets or factor investing and risk premia strategies. And above all, Amundi must affirm its position as the leading European asset manager with renewed strength, by contributing to the emergence of new concepts and market references.
“In an increasingly complex market environment, Amundi’s strategies must increase their ability to generate performance and to let it be known.” Pascal Blanqué