SG, Credit Agricole merge asset management businesses

During the Chinese lunar new year, two French giants, Societe Generale and Credit Agricole, announced the merger of their asset management businesses worldwide.The deal combines the entirety of Credit Agricole Asset Management with the European and Asian businesses of SG Asset Management as well as 20% of TCW, a US-based fund manager. Together, the new entity, which has yet to be named, will be responsible for €638 billion ($836 billion) of assets under management, as of 30 September …