Société Générale is readying itself to launch the sale of the firm’s asset management arm, Lyxor, as it attempts to bolster its finances following two consecutive quarterly losses, Reuters has reported.
The bank has hired Citigroup to oversee the sale of Europe's third largest ETF provider, potentially in the fourth quarter, sources told Reuters. Lyxor boosts climate ETF range with Paris-aligned launches Lyxor Asset Management represents roughly $156bn assets under management, of which half are ETFs, and could be valued at around $1bn, according to one of the sources, who added that "interested parties" have been contacted about the sale. The sale will be aimed at bidders in both Europe and the US, including Amundi and DWS, although the sources cautioned that no deal was certain. ...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes