Business & Finance
A $2.8 Trillion Asset Management Star Is a Deal Away From Losing Its Crown
Key Points
The Big Take A $2.8 Trillion Asset Management Star Is a Deal Away From Losing Its Crown Amundi became Europe’s largest fund firm with the help of acquisitions. But after years without a major takeover, rivals are catching up.
The Big Take
A $2.8 Trillion Asset Management Star Is a Deal Away From Losing Its Crown
Amundi became Europe’s largest fund firm with the help of acquisitions. But after years without a major takeover, rivals are catching up.
Valerie Baudson couldn’t be swayed. The chief executive officer of Amundi SA, Europe’s largest asset manager, had been looking at Axa SA’s fund unit for about a year, but the economics just didn’t make sense.
With talks at a standstill, cross-town rival BNP Paribas SA seized the opportunity, buying Axa Investment Managers to more than double the money it oversees and create a major competitor in Amundi’s backyard.