Natixis intends to take part in an expected consolidation wave in asset management, the French bank's chairman told Reuters on Monday.
Speaking a day after Natixis and parent company BPCE announced that the former would sell its 20 percent stake in the network of regional savings banks controlled by BPCE, Francois Perol said growth in asset management was a key goal.
"Our conviction is that banking models haven't finished their transformation," Perol said in an interview. "In asset management, there will be consolidation, and we wish to participate."
Natixis' asset management arm had 591 billion euros ($789 billion) of assets under management as of the year-end.
Natixis Chief Executive Laurent Mignon also told Reuters that the bank is aiming for a return on equity of around 12 percent in the long term.
($1 = 0.7490 euros)
(Reporting by Matthias Blamont; Writing by Christian Plumb; Editing by James Regan)