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Richard Bruyere said adding Lyxor gives Amundi ‘the scale to compete in Europe and beyond.’ Amundi s acquisition of Lyxor Asset Management marks a significant moment in Europe s exchange-traded funds industry, with a potential European champion finally emerging and also once again highlighting the importance of scale in the passive business. Last month, Paris-based money manager Amundi announced it had entered exclusive negotiations to acquire Paris-based Lyxor in an almost $1 billion deal. Amundi with €1.76 trillion ($2.07 trillion) in assets under management as of March 31 vs. Lyxor s €124 billion highlighted the ETF angle of the deal: Lyxor s European ETFs AUM was €77 billion as of Dec. 31, the third-largest player in Europe, while Amundi s was about €66 billion, putting it in fifth place. As of March 31, Amundi s AUM had grown to €77 billion.

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