MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, February 23, 2018 Will HSBC GAM Find Its Pioneer? Another European multinational asset manager may soon be pulling an Amundi, though it's not clear who the Pioneer would be in this case. "We continue to do a lot of work around asset management, to explore all the options, but it's too early to give any indications as to what we might do with it," John Flint, the new CEO of all of HSBC, said on Tuesday, Bloomberg reports. Flint is "exploring all options ... including a merger" for the HSBC Global Asset Management, the publication writes. Bloomberg posits that Flint might be aiming for something like Amundi, which Credit Agricole and Societe Generale created in 2010 by merging their in-house asset management business. They spun Amundi out in 2015, and last year bought Pioneer. It is now the biggest asset manager based in Europe. London-based HSBC GAM had $462 billion in AUM as of December 31, 2017 and, Bloomberg estimates, accounts about two percent of HSBC's overall income. Sridhar Chandrasekharan is the global CEO of HSCB GAM, and Deborah Hazell is CEO of its business here in the Americas. Its U.S. office is in New York City. Printed from: MFWire.com/story.asp?s=57682 Copyright 2018, InvestmentWires, Inc. All Rights Reserved |