Amundi has obtained all necessary regulatory authorizations for the acquisition of Pioneer Investments, which is expected to be finalized on July 3 2017. Amundi has also announced a new organizational structure.

Following the acquisition, Amundi expects to save 150 million euros in cost synergies and 30 million euros in revenue synergies over a full year, starting upon completion of the integration process, which will take place over the course of the next two years.

Yves Perrier, group CEO, chairman of the executive committee of Amundi Group, comments, “The acquisition of Pioneer is a major step in the implementation of Amundi's strategy. It enables us to consolidate our position as European leader while enhancing the range of products and services offered to our clients.”

The renewed organizational structure will be supported by the following pillars:
• Two divisions focused on Amundi's two major client segments (retail and institutional/corporate clients)
• The investment management platforms
• The operations, services and technology division
• The business monitoring and control division
• The finance and strategy division