BPCE and Generali to create largest asset manager in Europe by revenues

Written by Adam Cadle

21/01/2025

BPCE and Generali are to create the largest asset manager in Europe by revenues.

A non-binding Memorandum of Understanding (MoU) has been signed to create a joint venture between their respective asset management operations Generali Investments Holding (GIH) and Natixis Investment Managers (Natixis IM).

The joint venture will have €1.9trn in AuM, ranking ninth worldwide by AuM, and €4.1bn in revenues, ranking number one.

Philippe Donnet, Group CEO of Assicurazioni Generali, said: “As a leading global integrated insurer and asset manager with a clear long-term vision as a lifetime partner to our customers, Generali is committed to further building on the successful transformation and diversification of our group. The creation of a joint venture with BPCE would present a unique opportunity to establish a European leader and a top 10 global asset manager building on strong roots in Italy, France and the US to serve the constantly evolving needs of our customers, led by Woody Bradford, Philippe Setbon, Nicolas Namias, and me.

“Our home country Italy and all other countries in which we serve our customers would benefit from an even stronger asset management platform with greater investment capabilities that deliver real benefits to the economy. Partnering with BPCE, which shares a similar culture and operational approach, ensures ideal conditions for a smooth and successful integration path for the combined business. The joint venture marks a key milestone since the launch of Generali’s asset management business seven years ago and is testament to the significant achievements over the most recent strategic cycles. I am immensely proud of our employees’ and affiliates’ hard work over this period.”

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