UniCredit CEO says relationship with Amundi is 'solid'
MILAN, Nov 25 (Reuters) -UniCredit CRDI.MI Chief Executive Andrea Orcel said on Monday relations with Amundi AMUN.PA, Europe's biggest asset manager, were "solid" after the group launched a buyout bid for smaller peer Banco BPM BAMI.MI.
UniCredit is the biggest partner of Amundi in Italy. The Banco BPM bid can lead UniCredit to owning fund manager Anima ANIM.MI.
The Amundi contract runs through 2027 and UniCredit has said it may not renew it.
Amundi is owned by Credit Agricole CAGR.PA, which is also the biggest shareholder in Banco BPM BAMI.MI. Amundi has invested in Anima on behalf of its clients.
Speaking to analysts and investors after announcing the Banco BPM offer, Orcel said UniCredit would keep an asset management offer for clients that includes the products of 'best-in-class players' such as Amundi as well as local fund managers like Anima.
Asked about Credit Agricole, he said he thought solutions of mutual interests could be worked out with Banco BPM 'industrial' shareholders.
Reporting by Valentina Za, editing by Gavin Jones
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