Société Générale SA is considering options for its Lyxor Asset Management SAS unit, including a potential sale or merger, amid heavy competition in the asset management industry, people familiar with the matter told Bloomberg News.
The sources noted that the French lender has not yet made a final decision on the matter and could decide to retain the subsidiary. At July-end, Lyxor had about €151 billion of AUM, with almost half in exchange-traded funds, according to the newswire.
SocGen has been cutting costs and shedding nonstrategic assets to address investor concerns about its capital levels, which have been weighing on its shares. The Paris-based bank is also evaluating potential exits from its private banking business in the U.K. and Nordic equipment leasing operations, according to sources.
