BPCE CEO Nicolas Namias aims to transform the French bank into a major European player, expanding through acquisitions such as Novobanco (€6.4B) and Société Générale’s German leasing unit, alongside the planned merger of Natixis Investment Managers with Generali Investments Holding (€1.9T AUM).
However, obstacles have emerged: Italian government concerns threaten the Natixis-GIH merger, while Novobanco is under investigation for suspected past corruption. Meanwhile, BES victims have pressed BPCE to honor outstanding claims.
Namias maintains that these steps advance “financial sovereignty” in Europe, but both deals underscore the complexity and risks of cross-border banking expansion.
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