The Swiss bank is reportedly interested in a sizable asset manger in the Netherlands – in a crowded field of suitors.
The asset management arm of Dutch insurance group NN is sparking interest from potential acquirers, including UBS, according to «Bloomberg». The unit manages roughly 300 billion euros ($365 billion), primarily from the group's life insurance arm.
The asset management business of Switzerland's largest bank, now overseen by Suni Harford, has been the subject of merger rumors for some time. It came close to merging with Deutsche Bank’s DWS, but talks fell apart over headquarter location, finews.com reported three weeks ago.
Ironically, DWS but also Italian insurer Generali have already placed offers for NN, the news agency reported. Germany's Allianz as well as a series of U.S. firms are also taking a look. NN in April disclosed it was looking at strategic options for the asset management business.
