Beyond the Eurizon

Everyone has focused on how the merger of Banca Intesa and Sanpaolo Imi will create a national banking champion in Italy. But the deal may also create a new European champion in asset management. Intesa boss Corrado Passera is mulling the creation of a pan-European asset management business - under single management and a single brand name. This would knit together Sanpaolo’s Eurizon arm, Intesa’s Nextra and Credit Agricole’s own sizeable asset management business. If the deal happens, which is...