Axa IM takes 50% stake in Kyobo ITMC
The deal with Kyobo Life marks Axa Investment ManagersÆ third big regional joint venture in asset management.
Axa Investment Managers will take a 50% stake in Kyobo Investment Trust Management Company, a subsidiary of Kyobo Life and KoreaÆs seventh-largest asset manager, with around $15 billion of assets under management.The new company will be called Kyobo Axa Investment Managers and will operate as a joint venture dedicated to asset management in Korea.Details regarding the JVÆs key executives have yet to be finalised. A Kyobo Life spokesman says Kyobo Life will likely appoint a CFO while A…
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