BPCE and Generali to form a joint venture.

BPCE, a banking group, and Generali, a global insurance and asset management provider, agreed to form a joint venture between the asset management operations Generali Investments and Natixis Investment Managers. Financial terms were not disclosed. “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," Philippe Donnet, Assicurazioni Generali CEO.