Axa Investment Managers has also reportedly been in talks with Natixis.

France’s largest lender is reportedly exploring a tie-up with Axa Investment Managers.

BNP Paribas is among a number of firms seeking to do a deal with the French asset management unit of Axa and has studied the feasibility of combining the bank’s money management arm with it, according to Bloomberg, which cites people familiar with the matter. 

Axa Investment Managers has also reportedly been in talks with French rival asset manager Natixis. 

The group is under mounting pressure from passive investment vehicles like exchange traded funds and heightened regulation that encourage consolidation. 

JP Morgan analysts wrote in a note that a deal with Natixis is unlikely because of the size, as Natixis has historically focused on smaller acquisitions. 

Which assets and geographies would be involved in any combination is also reportedly a talking point. 

Axa Investment Managers has operations in Europe, the US and Asia and oversaw $879 billion in assets at the end of June, according to its website.