German bank Commerzbank on Tuesday said it has taken a significant step in its asset management business by spinning off its active asset management segment into a new stand-alone boutique called Yellowfin Asset Management GmbH.
The bank said this strategic move aims to cater to institutional investors, corporate clients, and high-net-worth individuals with managed assets of at least 30 million euro. Yellowfin will operate as one of Commerzbank’s three pillars in the asset management sector, joining Commerzbank Vermögensverwaltung and Commerz Real.
The decision to establish Yellowfin as a separate entity is rooted in Commerzbank’s ambitions to boost its asset management growth.
“Yellowfin is an important element for our further growth in asset management”, said 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 active asset management unit was initially under Commerzbank’s wing, but in 2019, it came under the management of Société Générale after the sale of the Equity Markets & Commodities (EMC) division. In 2022, the entire team was reacquired by Commerzbank, providing a more conducive environment for Yellowfin to continue its boutique approach.
‘Ideal structure’
«Under the umbrella of Commerzbank, we have found the ideal structure to continue our boutique approach,” said Andreas Neumann, the chairman of the management board of Yellowfin Asset Management GmbH, states. The backing of Commerzbank’s support functions and sales platform allows Yellowfin to scale its business effectively.
Yellowfin will deploy a technical investment approach based on proprietary quantitative models, integrating insights from behavioural finance theory into their investment process. The company currently manages assets exceeding €10 billion, and its integration into Commerzbank’s infrastructure ensures a continued high process quality in crucial areas like compliance, legal, and IT. This allows the asset management team to focus entirely on its core business.
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