Generali and BPCE have signed a non-binding Memorandum of Understanding (MoU) to create a joint venture between their respective asset management operations.
With over €1.9 trillion of assets under management (AUM), the combined business would reportedly create a global asset management platform with leading positions and critical scale in both Europe and North America.
According to the two firms, the combined business would rank #1 by revenues and #2 by AUM in Europe, #9 by AUM globally, and #1 in insurance asset management by AUM worldwide.
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