Cost pressures and competition are driving consolidation in the asset management sector. Discussions between two major players, French asset manager Amundi and German asset manager Allianz Global Investors (AGI), are underway.
Amundi is reportedly interested in acquiring AGI or forming a joint venture with it. This could involve a full acquisition or a combination where Allianz retains a significant stake. Alternatively, the deal might create a new entity that merges specific parts of both businesses.
To evaluate various options, Amundi and AGI are working with consulting firms. Similar discussions have taken place between Allianz and Deutsche Bank regarding its subsidiary DWS.
Rising costs and fee pressures are forcing European asset managers to seek scale. Compared to US competitors, they remain relatively small. Amundi leads Europe with over €2 trillion in assets under management, while AGI manages €555 billion.
As the sector consolidates, Amundi’s acquisition ambitions raise questions about the future of competition and market share.
Source: https://www.finews.com/news/english-news/65554-amundi-agi-talks-merger