Commerzbank founds asset management company Yellowfin to manage large asset volumes
August 1 2023
- Offering geared to institutional investors, corporate clients, and high-net-worth individuals
- Managed assets of more than €10 billion with high growth momentum
- Private and Small-Business Customers board member Thomas Schaufler: “Yellowfin unites the very individual relationship management and the short decision-making paths of an investment boutique with the high process quality of Commerzbank.”
As of 1 August 2023, Commerzbank has spun off its Active Asset Management segment as a stand-alone company – Yellowfin Asset Management GmbH. The company is geared to institutional investors, corporate clients, and high-net-worth individuals with managed assets of at least €30 million.
As of now, Yellowfin will be one of Commerzbank’s three pillars in the field of asset management, alongside Commerzbank Vermögensverwaltung and Commerz Real.
“Yellowfin is an important element for our further growth in asset management”, says Thomas Schaufler, the board member responsible for Private and Small-Business Customers. “The company unites the very individual relationship management and the short decision-making paths of an investment boutique with the high process quality of Commerzbank.”
The Yellowfin team has been working together highly successfully for ten years already. The Active Asset Management unit was originally established at Commerzbank. In 2019, the business line was taken over by Société Générale in the wake of the sale of the Equity Markets & Commodities (EMC) division. In 2022, the entire team was retrieved by Commerzbank.
“Under the umbrella of Commerzbank, we have found the ideal structure to continue our boutique approach”, says Andreas Neumann, chairman of the management board of Yellowfin Asset Management GmbH. “We can now scale our business to a large degree, and especially so as we can draw on the Bank’s support functions and sales platform. In recent months, we have acquired a number of new clients and significantly increased our volume of managed assets. We intend to continue along this growth path.”
Yellowfin utilises a technical investment approach based on proprietary quantitative models. The investment process also incorporates findings from behavioral finance theory. The assets under management amount to more than €10 billion. The integration of the company into the structures of Commerzbank is a guarantee for the continued high process quality in important areas such as compliance, legal and IT, with the effect that the asset management team can focus in full on its core business.
Commerzbank is the leading bank for the German Mittelstand and a strong partner for around 26,000 corporate client groups and almost 11 million private and small-business customers in Germany. The Bank’s two Business Segments – Private and Small-Business Customers and Corporate Clients – offer a comprehensive portfolio of financial services. Commerzbank transacts approximately 30 per cent of Germany’s foreign trade and is present internationally in almost 40 countries in the corporate clients’ business. The Bank focusses on the German Mittelstand, large corporates, and institutional clients. As part of its international business, Commerzbank supports clients with German connectivity and companies operating in selected future-oriented industries. In the Private and Small-Business Customers segment, the Bank is at the side of its customers with its brands Commerzbank and comdirect: online and mobile, in the advisory centre, and personally in its branches. Its Polish subsidiary mBank S.A. is an innovative digital bank that serves approximately 5.7 million private and corporate customers, predominantly in Poland, as well as in the Czech Republic and Slovakia.