Consolidation set to move up asset management agenda
Further asset management consolidation is on the horizon but the line between predator and prey is increasingly blurred Numis said in a note on Friday.
Further asset management consolidation is on the horizon but the line between predator and prey is increasingly blurred Numis said in a note on Friday.
Barclays is continuing to offload its non-core operations, selling its Spanish pension assets and liabilities to Vidacaixa, S.A.U. de Seguros y Reaseguros, a member of the Caixa Group.
Mexican insurance regulator National Commission of Insurance and Finance (CNSF) has approved the sale of the local arm of UK-based RSA Insurance Group by Colombia’s Grupo Sura.
Jersey headquartered fiduciary services company Elian Group is to be sold for £435m ($627m, €553m) to Dutch trust and corporate services provider Intertrust.
Close Brothers Asset Management has acquired the chartered financial planning firm, Eos Wealth Management, for an undisclosed sum.
Barclays Africa Group (BAGL), one of South Africa’s ‘big four’ banks, is looking to expand its insurance business into Ghana, local media reports suggest.
Scottish-based investment firm Alliance Trust has announced it has entered talks with RIT Capital Partners on a merger of the two companies.
French insurance giant Axa announced the sale of the remaining parts of its UK business to the Phoenix Group on Friday, and unveiled a new-look global business structure from incoming chief executive Thomas Buberl.
The long-delayed deal between Italy’s UniCredit and Spain’s Santander to merge their fund management businesses has hit a further roadblock, with the Italian bank now on the hunt for a new chief executive.
Old Mutual is reportedly a step closer to selling its US asset management business, with the group’s board understood to support the deal.
ANZ Banking Group is looking to sell its life insurance and pension product unit, valued at up to $4bn (£2.76bn, €3.6bn), say media reports.
Insurance giant Legal & General (L&G) has bought a £3bn ($4.3bn, €3.9bn) UK annuity portfolio from Dutch-headquartered life group Aegon.