Building on the momentum generated by its entry into the LBP AM Group and ahead of the birth of the new entity it will form with Tocqueville Finance (TFSA)1in a few weeks’ time, La Financière de l’Échiquier (LFDE) is refreshing its governance and its management team.
- Olivier de Berranger, currently Deputy Chief Executive Officer and Chief Investment Officer, has been appointed Chief Executive Officer of La Financière de l’Échiquier.2
- Vincent Cornet, currently Chief Executive Officer of Tocqueville Finance and a member of the LBP AM Executive Board, is joining him as Deputy Chief Executive Officer of LFDE.3
Olivier de Berranger replaces Bettina Ducat, who has been Chief Executive Officer of LFDE since July 2020, and who is stepping down on 20 December 2023 to embark on a new phase in her career. LFDE would like to thank her sincerely for her commitment over the years, which has enabled the company to embark with confidence on a new phase in our development.
By entrusting the leadership of La Financière de l’Échiquier to Olivier de Berranger, who has been a pillar of the company for nearly 17 years and the key to some of its greatest successes, and by appointing Vincent Cornet, under whose leadership TFSA has enjoyed exceptional growth, to work alongside him, LBP AM is reaffirming the importance of the fundamentals of LFDE’s identity and its ambition for the new entity.
The new management team will continue to receive the support of an Executive Committee recognised for its great cohesion, its compelling expertise and the long-standing commitment of its members.
Within the New LFDE, Olivier de Berranger and Vincent Cornet will also be able to draw on one of the most extensive investment teams in the Paris market and all the driving forces of the company.
To round out the new organisation and provide the New LFDE with all the resources it needs for its transformation, key new hires will soon join teams to help drive the achievement of our growth objectives in France and Europe.
The New LFDE’s aim is to intensify distribution to its traditional client segments in France and Europe. With the added expertise of LBP AM, it will be able to offer its clients a range of strategies and styles of rare depth in conviction management and dedicated solutions, as well as in sustainable finance, in both listed assets (equities, multi-assets, credit and convertible bonds) and unlisted assets (debt – infrastructure, corporate and real estate – and private equity).
LFDE will be able to count on the full support of LBP AM and its long-term shareholders, La Banque Postale and Aegon Asset Management, to help it achieve this change of scale in response to the challenges facing the asset management industry and to ensure robust and sustainable growth.
“The choice of Olivier de Berranger to lead LFDE is one of renewed ambition for the future. With Vincent Cornet at his side, whose skills and commitment are also unanimously recognised, I am sure that he will successfully lead the LFDE and Tocqueville Finance teams on the path of conquest that lies ahead. As head of LFDE since 2020, Bettina Ducat has worked to support the teams during a time marked by a number of major changes, and has helped in particular to complete the sale and successful integration of LFDE into LBP AM. As Bettina now turns to a new stage in her career, I would like to thank her and wish her all the best for the future.” said Emmanuelle Mourey, Chair of LFDE’s Board of Directors and LBP AM’s Executive Board.
“I firmly believe that the New LFDE, with €25 billion in assets under management, its two brands – Echiquier and Tocqueville – the agility inherent in its entrepreneurial culture and the active support of LBP AM, is now ideally placed to meet the challenge of financial and non-financial performance, particularly in the face of the significant challenges for conviction management style in the current environment. I know I can count on the expertise of Michel Saugné, CIO and deputy-CEO of Tocqueville Finance, and his team. It is with great enthusiasm that I take the helm of this exceptional team, whose outstanding qualities are decisive assets,” said Olivier de Berranger, CEO and CIO of LFDE.
“Joining Olivier de Berranger and LFDE at such a strategic time is a real honour and a great source of pride. It is also an opportunity for Michel Saugné, CIO and deputy-CEO of TFSA, who and his team have supported me in the development of the company, to build on their excellent momentum and go even further. Our roadmap is truly exciting. Together, we are about to build a new leader in conviction-based management capable of providing all our clients, from individuals to institutions, in France and across Europe, with enhanced financial management and a profoundly renewed and innovative offering.” said Vincent Cornet, deputy-CEO of LFDE3.
Bettina Ducat: “I have been honoured to lead this great company for more than three years, supported by teams of the highest quality, and I hope that LFDE will continue its development within LBP AM under the new governance structure, to which I wish every success.
1 From 1 April 2024
2 Subject to AMF authorization
3 On 1 January 2024, subject to AMF authorization
