Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Chinese bank eyes Pioneer after ruling out Ignis bid

Chinese bank eyes Pioneer after ruling out Ignis bid

China’s biggest state-owned lender is considering launching a €2 billion (£1.65 billion) bid for Pioneer.

According to the Sunday Times, Industrial & Commercial Bank of China (ICBC) is looking to capture a European asset manager.

The paper claims ICBC had considering mounting a bid for Phoenix-owner Ignis, which was sold to Standard Life Investments last week.

Pioneer is owned by Italian bank Unicredit and is one of Europe’s largest fund managers with €174 billion in funds under management.

Unicredit is under pressure to shore up its balance sheet after recently posting a record €14 billion loss. However, the bank at the time stressed Pioneer remains a core part of its business.

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter