(Alliance News) - Negotiations between Assicurazioni Generali Spa and Natixis for a possible alliance in asset management are continuing. Although the project is still at an interlocutory stage and there are no official documents before Generali's Board of Directors, the first details of the proposal are emerging.

As Il Sole 24 Ore reported Friday, the joint venture would provide for a 50-50 equal stake between Generali Investment Holding - Gih - and Natixis, with governance initially favorable to Generali, including the appointment of the CEO for at least five years.

Generali would contribute EUR650.00 billion in assets out of a total of EUR840.00 billion, while Natixis would bring in EUR1.2 trillion. To balance the deal, Generali could add EUR15.00 billion in new production, in a manner yet to be determined.

The deal, which could have a major impact on Italian savings, will be subject to golden power regulations, given the strategic importance of the assets involved.

Woody Bradford, current CEO of Conning, is the favored candidate to lead the new platform. If concluded, the deal would mark one of the largest European collaborations in asset management.

By Antonio Di Giorgio, Alliance News reporter

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