Financial Services Industry
Industry: Email Alert RSS FeedBNP Paribas tipped to buy Cogent.
Financial News, May, 2002
Byline: Mike Foster
BNP Paribas, the French owned banking group, has been tipped as the likely buyer of Cogent, the investment administration group. Cogent, owned by Australian insurer AMP, administers funds totalling [pound]140bn ([euro]224.4bn) for a range of clients including Henderson Global Investors, Vontobel and Aberdeen Asset Management.
Its operations were recently split away from Henderson by AMP, which owns both firms. AMP recently confirmed that it had entered into negotiations to sell Cogent. The insurer has decided that it can best apply its capital to secure growth elsewhere.
Cogent is interested in developing its operations on a global scale, and BNP Paribas would supply the kind of muscle that it needs.
Anthony...
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