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New contender for EU asset-management champion emerges

By Jean Comte ( January 24, 2025, 10:07 GMT | Comment) -- The plan that BPCE and Generali unveiled this week for a major asset-management joint venture adds a new effort to build a European champion in a market largely dominated by US players, joining the existing bid by BNP Paribas and AXA to team up. EU policymakers like to back initiatives aimed at scaling up European businesses to compete globally, but the cross-border nature of the French-Italian deal makes it politically sensitive at the national level.The race to create a new European champion in asset management received a boost with French bank BPCE and Italian insurer Generali announcing joint venture plans on Tuesday....

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