Cost pressures and competition are driving consolidation in the European asset management sector, with Amundi reportedly interested in acquiring Allianz Global Investors (AGI). Discussions have included options for a full acquisition or a joint venture, as both firms explore strategies to enhance scale amid rising costs. Meanwhile, other potential mergers are being considered in the industry, highlighting the trend towards consolidation.
Christian Trixl has stepped down as CEO of Amundi Switzerland after serving since 2019, with Marco Büchler taking over the role. Büchler, who has 20 years of experience in the financial sector, previously held the position of Managing Director at Capital Group. The reasons for Trixl's departure remain unclear.
SBI Mutual Fund has appointed Nand Kishore as its new managing director and CEO, succeeding Shamsher Singh, who returns to the State Bank of India. Kishore, with over 34 years of experience at SBI, has held various key positions, including deputy managing director. SBI Mutual Fund, a joint venture with Amundi, is India's largest fund house, managing assets worth Rs 11 lakh crore as of October.
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