France-based Crédit Mutuel Alliance Fédérale has launched a new asset management arm called Crédit Mutuel Investment Managers.

The hub consists of Crédit Mutuel Asset Management, Banque de Luxembourg Investments, Cigogne Management, CIC Private Debt and Dubly Transatlantique Gestion and combines that sales and marketing teams, the Crédit Mutuel Group unit said Jan. 14. It aims to increase AUM, excluding money market funds, by 40% over the next five years.

Guillaume Angué and Marie-Hélène Bourgeois are the CEO and deputy CEO, respectively, of the new entity.

The launch of the entity is a part of the Crédit Mutuel Alliance Fédérale's 2019-2023 strategic plan to develop its asset management activities.