(Alliance News) - A deal between Generali and Natixis on asset management is possible, La Repubblica wrote Wednesday.

Generali's board of directors, scheduled for Jan. 20, will discuss a memorandum of understanding with Natixis. The transaction will have to be authorized by the Investment Committee and involves the analysis of two financial entities: Generali and Generali Investment Holding, the newspaper continues.

The idea would be to create a joint venture, jointly controlled, to manage about EUR2 trillion.

As Repubblica explains, Generali would entrust about EUR650 billion in savings from its clients, while Natixis, which also manages savings from third-party clients, would contribute EUR1.2 trillion.

The goal is to reduce costs, attract talented managers, and increase capital under management. Governance includes a CEO from Generali for the first five years and one from Natixis for the next five years.

The deal, however, will have to pass the scrutiny of the golden power law, which allows the Italian government to intervene in strategic sectors such as savings.

By Claudia Cavaliere, Alliance News reporter

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