Mutua Madrileña, Andbank and Abante lead concentration operations in asset management
Mutual Madrileña, Andbank Spain and Abante are the three ensigns leading concentration operations in the sector of asset Management, anticipating a more than probable concentration process that will continue in times of economic uncertainty due to the coronavirus crisis.
Mutua Madrileña has been one of the most dynamic entities in this consolidation process, acquiring stakes in Alantra, EDM and Cignus.
The insurance company that presides Ignacio Garralda It recently acquired 20% of Alantra Asset Managament, after previously purchasing 51% of Alantra Wealth Management. It also took a 20% stake in Cygnus and 53% in EDM, focused on Catalonia.
Tendency to concentration
This trend towards concentration in the financial advisory segment has intensified in recent months and could lead to the disappearance of some firms and the absorption of others by larger players.
The coronavirus accelerating trend will most likely continue mergers in the asset management market
Andbank has become one of the most active entities in this concentration process. In the middle of March, it announced the acquisition of Esfera Capital Gestión, at a time when the markets were experiencing a historical collapse and in which merger and acquisition operations fell by 90% in Spain, according to data from the Transitional Track Record (TTR ).
The private banking entity is in ninth position in the ranking for assets under management, thanks in part to the acquisition of Inversis in 2015, Merchbanc in 2018 and now Esfera Capital Gestión, a growth strategy that the manager has developed since its arrival in Spain.
This strategy has been followed by Abante, which announced the purchase of C2 Asesores a few days ago, an agreement that is part of Abante’s alliance with Mapfre, a plan to activate its expansion and growth in Navarra and La Rioja and which converts the financial institution in a binder of private banking projects.