AXA considering sale of Architas: reports
AXA is considering putting its wealth management business Architas up for sale, according to Bloomberg.
The report said the French insurer was gauging interest in the sale of its UK-based multi-manager fund of fund business, which has about £6bn in assets under management and was set up in 2008.
The potential sale would fit with AXA chief executive Thomas Buberl's plans to offload smaller non-core businesses and reduce less profitable operations across the global business, the report said.
AXA has been streamlining its operations since it bought XL Group in 2018 for about $15bn, Bloomberg said.
In February, it agreed to sell its Eastern European operation for about €1bn. It is also considering the future of its Middle Eastern business.
AXA declined to comment on the speculation.
by Tanya at http://www.ifacareers.today
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