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SocGen to Seek Buyer for $175 Billion Fund Arm After Review

  • Move follows yearlong strategic review of Lyxor business
  • French bank working with adviser to seek buyer for division
Commuters in La Defense as France Economy Gets Into Recovery Stride
Photographer: Nathan Laine/Bloomberg

Societe Generale SA has decided to pursue a sale of its Lyxor asset management business after a yearlong strategic review, people with knowledge of the matter said.

The French bank is working with an adviser as it seeks a buyer for the division, according to the people, who asked not to be identified because the information is private. SocGen started exploring options for the business last year and has been informally gauging interest in different parts of the unit, the people said.