Crédit Agricole Asset Management (CAAM), the asset management division of the Credit Agricole group and Calyon, its corporate and investment banking division have announced the creation of a 50/50 joint venture called Crédit Agricole Structured Asset Management (CASAM).

This new asset management company, approved by the Autorité des Marchés Financiers – the French securities regulator - on 1 September 2005, brings together expertise from across the Crédit Agricole Group in structured investment products, alternative investment through managed accounts, and exchange traded funds (ETF).

Indeed, the joint venture, which is the sole provider of such products within the Crédit Agricole Group, will oversee 430 funds with more than 33 billion euros under management.

CASAM is also responsible for the promotion of Crédit Agricole Group's ETF. These now represent a total of more than 2 billion euros invested in the main European indices, including the CAC40 indexis, SPDR Euro and SPDR Europe 350.

The chairmanship of CASAM's board of directors will be held on a revolving, three-year basis by representatives of CAAM and Calyon.

Marc Litzler, deputy chief executive officer at Calyon, will be the first chairman of CASAM's Board.

Fathi Jerfel, a member of the executive committee and head of structured asset management at CAAM has been appointed chief executive officer at CASAM.

Marc Romano, a member of the executive committee of the equity and fund derivatives business line and head of Calyon's investment structuring teams, has been appointed deputy chief executive officer at CASAM.

CASAM intends to market its expertise via the CAAM and Calyon teams in more than 60 countries, to a client base of institutional investors, companies and distributors.