Promepar Asset Management

Promepar is a wholly owned subsidiary of BRED, a major French cooperative bank. The firm was created in 1992 as BRED's in-house asset manager, and it operates almost entirely in service of BRED's private-banking, institutional, and corporate client base. This captive structure means Promepar does not run an independent retail or institutional sales force; its product shelf — carrying the BRED brand — is distributed through the parent bank's network.

Promepar divides its investment capabilities into two distinct teams. A direct-selection side manages concentrated portfolios of European equities and bonds based on internal macro, micro, and company-meeting research. A separate fund-of-funds team selects external managers across asset classes, constructing diversified multi-manager allocations with tactical flexibility. Both approaches are run with explicit conviction weightings and no single-style bias.

There is no evidence on Promepar's website of an external sales force or a distribution agreement beyond BRED. The firm lists institutional clients — including pension funds, insurance companies, and family offices — but all appear to be served through the BRED institutional banking relationship channel, making the manager effectively captive from a distribution standpoint.

The firm maintains a dedicated SRI product range in fund-of-funds format and integrates ESG criteria into its direct-security analysis when data is available. Murielle Hermellin heads the socially responsible investment effort, and Promepar publishes regular SRI commentary. However, the firm's marketing does not claim exclusionary screens or Article 8/9 SFDR labels across the full product line.

CEO Marc Favard is the senior investment voice, with Delegated CEO Erwan Duquoc and Deputy CEO Mathieu Breton forming the executive trio. Stéphane Parry runs mutual fund management, Arnaud Morel directs the discretionary mandate business, and Murielle Hermellin leads SRI. The parent bank exerts governance control through Chairman Françoise Epifanie, who also sits on BRED's executive committee.

The firm operates an advisory management and structured products desk under Arnaud de Calatchi, who joined in 2021 after structured-product sales roles at BNP Paribas Wealth Management in Paris and Hong Kong and a private-banking stint at Crédit Suisse. This unit appears oriented toward BRED private-banking clients seeking custom payoff structures rather than standalone structured-product fund distribution.