Banco Comercial Portugues S.A.
20 November 2000
EUREKO ANNOUNCES NEW ASSET MANAGEMENT VENTURE
Eureko B.V. today announced the launch of Eureko Global Asset Management - EGAM
- to be based in Amsterdam.
The new company will be implemented as a joint operation within Eureko,
combining the asset management businesses of Banco Comercial Portugues (BCP/AFI)
and Achmea Holding (AGI).
In July of this year, BCP and Achmea announced the intention to form a new
company under the Eureko banner, which will seek a listing within two years, and
to which BCP is contributing its insurance business and Achmea all of its
activities. The formation and launch of EGAM is a significant step forward for
Eureko in beginning to crystalise the development plans it outlined in July.
Eureko regards Asset Management as one of its core activities which can leverage
on existing synergies and specialisation in managing assets. EGAM aims to
strengthen its position, becoming a leading European asset management company by
building a base for growth beyond existing operations, gaining new customers and
attracting new partners.
EGAM will be an independent Eureko company, building on the strength of the
asset management activities of Achmea and BCP. As of June 30th 2000, the total
combined Assets under Management amounted to EUR 78.0 billion.
Banco Comercial Portugues, S.A. (BCP) is Portugal's leading asset manager, with
37% market share in mutual funds, and a 25% share in pension funds management in
which it ranks first. At 30/6/00 AFI had some EUR 19.8 billion assets under
management.
AGI of Achmea is the largest full service asset manager in The Netherlands, with
a significant position in European pension funds market, and with EUR 54.9
billion assets under management (as at 30/6/00).
Joao Talone, CEO of Eureko, said in a statement, ' This is a very positive step
for Eureko. When we announced the formation of the 'new' Eureko B.V. in July
this year, it was just that - an announcement of our aims. We still had a great
deal to do and some ambitious plans for the future development of the Company.
Just a few months on, I am pleased to say that the first elements of the overall
plan are coming to fruition. The new Asset Management company will aim to
provide a world-class service.'
Amsterdam; November 20th 2000
For further information, contact
At Eureko Lorrie Morgan Tel (Office): +31 20 6607654
Mobile: +31 654 93 72 72
At BCP Antonio Cunha Vaz Tel (Office): +351 21 721 6000
Mobile: +351 966 405 103
At Achmea Rene Visser Tel (Office): +31 30 693 7065
Mobile: +31 651 44 57 79
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