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France's Biggest Bank Eyes Deal With Axa Investment Managers - Report
Axa Investment Managers has also reportedly been in talks with Natixis.
France’s largest lender is reportedly exploring a tie-up with
Axa
Investment Managers.
BNP Paribas is
among a number of firms seeking to do a deal with the French
asset management unit of Axa and has studied the feasibility of
combining the bank’s money management arm with it, according to
Bloomberg, which cites people familiar with the
matter.
Axa Investment Managers has also reportedly been in talks with
French rival asset manager Natixis.
The group is under mounting pressure from passive investment
vehicles like exchange traded funds and heightened regulation
that encourage consolidation.
JP Morgan analysts wrote in a note that a deal with Natixis is
unlikely because of the size, as Natixis has historically focused
on smaller acquisitions.
Which assets and geographies would be involved in any combination
is also reportedly a talking point.
Axa Investment Managers has operations in Europe, the US and Asia
and oversaw $879 billion in assets at the end of June, according
to its website.
