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 cons...
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