AXA IM under review for potential merger - report

The insurance company is apparently considering a merger or joint venture for AXA IM, according to Bloomberg. Although no final decisions have been made, people familiar with the matter said a potential partner could include fellow French business Natixis and any transaction could be a precursor for an eventual IPO or partial sale. Jean Raby, head of Natixis' fund management operations, said earlier this year the firm was "constantly on the lookout" for acquisitions but also wanted to stick with a model "not based on cutting staff or cutting costs to the core". AXA and Natixis did ...