First Eagle to Open Its First German Office in More Than 80 Years
NEW YORK – August 3, 2020—First Eagle Investment Management, LLC (“First Eagle”) is pleased to announce plans to open a branch of First Eagle Investment Management Ltd. in Munich, Germany, through which the firm will serve international wholesale clients in Europe, the Middle East and Africa (EMEA) as well as in other non-US domiciles. The Munich office will be overseen by Matthieu Louanges, who joins First Eagle on August 3 as head of its international wholesale business. Louanges will be stationed in Munich in preparation for the official opening of First Eagle’s office there, expected in late 2020.
“First Eagle traces its origin to Germany, and we are excited to reestablish our local presence there after an absence of more than 80 years,” said Mehdi Mahmud, President and Chief Executive Officer of First Eagle. “Arnhold and S. Bleichroeder, the predecessor firm to First Eagle, represented the amalgamation of two storied German banks: Berlin-based S. Bleichroeder, founded in 1803, and Dresden-based Gebr. Arnhold, founded in 1864. First Eagle’s European roots run deep, and the plan to open an office in continental Europe feels like something of a homecoming. Under the leadership of Matthieu, who has extensive experience working with international clients and building and managing multinational franchises, our Munich location will help us strengthen our partnership with Amundi Asset Management and enhance our client service outreach for non-US clients worldwide.”
Louanges and his team, located in Munich and New York, will be responsible for First Eagle’s international wholesale distribution business, which includes the firm’s distribution partnership with Amundi Asset Management. The European Union and the European continent will continue to be key elements of First Eagle’s international business, and the firm expects Asia and South America to be particularly important regions of business growth moving forward. Highlighting the firm’s commitment to its international business, Louanges will report to Mahmud and will join First Eagle’s Management Committee, marking the first time a Management Committee member has been based outside of the US.
French/German binational Louanges joins First Eagle after more than 20 years at PIMCO, where he was one of the most senior leaders in PIMCO’s EMEA franchise; as Managing Director, he most recently headed up the firm’s global relationship with Allianz. Earlier in his PIMCO tenure, Louanges launched the company’s EMEA insurance channel, which over time evolved into the broader financial institutions group, and he had broad oversight responsibility for PIMCO’s business in Switzerland and France as well as its EMEA client solutions team. Louanges joined PIMCO as a portfolio manager of mutual funds and institutional mandates in 2000 upon its acquisition by Allianz, where he had been playing a similar role.
“I am excited to join First Eagle Investment Management and become a member of its Management Committee,” said Louanges. “While First Eagle’s investment proposition already has a broad client base globally, given the increasingly uncertain economic and market environment, there remains a strong appetite for solutions that combine the potential for attractive returns with downside protection over full market cycles. I look forward to working closely with Mehdi and the rest of my new colleagues to make First Eagle’s time-tested, differentiated investments solutions accessible to international clients and to support our important partnership with Amundi Asset Management.”
Louanges succeeds Robert H. Hackney, Jr., a 25-year veteran of First Eagle. Hackney will remain with the firm, first to assist in the transition of his leadership of the international wholesale distribution business to Louanges and afterward as an advisor to Mahmud and the firm’s leadership team on strategic initiatives. “Robert’s leadership has been integral to the success of our partnership with Amundi Asset Management and our international wholesale business. We have benefited from his keen strategic perspective over the years, and I look forward to his ongoing counsel as we continue to evolve the firm,” said Mahmud.
About First Eagle Investment Management
First Eagle Investment Management is an independent, privately owned investment management firm headquartered in New York with approximately $101 billion in assets under management as of June 30, 2020. Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside protection. Over a long history dating back to 1864, First Eagle has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. The firm’s investment capabilities include equity, fixed income, alternative credit and multi-asset strategies. For more information on First Eagle, please visit www.feim.com. For information on First Eagle Alternative Credit, please visit www.feac.com.
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First Eagle Investment Management is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers.