The group has created independent wealth management units for Western Europe, Eastern Europe and the Middle East. This will come with 500 layoffs among the 23,000 worldwide wealth management employees.
Driven by a “true spike in applications” for AMF certification, the number of portfolio management firms in France rose slightly last year, and the trend could spill over into this year.
An increasing number of fixed-income managers believe that ESG is a way to keep their head out of the water.
Deutsche Bank has announced the transfer of its global prime finance and electronic equities clients to French bank BNP Paribas, with the potential migration of 1,000 staff.
Kristina Hooper, chief global market strategist at Invesco, says that investors need to be prepared for a changing world order, driven by disruptions such politicisation of central banks and geopolitical shifts, in particular, the Sino-US trade war.
Under its cost-cutting plan, the asset manager plans to trim about 100 jobs in France.
The cumulative assets under management of 18 US listed asset managers have reached a new peak at the end of Q2 2019 but most experienced net redemptions over the quarter.
The Paris appeal court has ordered Generali Insurance Asset Management to communicate the payslips of two male executive co-workers to a female executive employee as she considers suing the company over discrimination or infringement to equal treatment.
The market is dominated by the UK, France and Germany, which together represent 63% of assets under management.
Climate change and artificial intelligence (AI) could disrupt the asset management industry, forcing managers to dramatically change their business models.
According to Banque de Luxembourg Investments's managing director and chief investment officer, "the golden age of asset management has turned full circle."