Natixis Names New PE CEO, Ahead of Sale

PARIS (Reuters) – French bank Natixis (CNAT.PA) said on Tuesday it would appoint Nicolas Homassel as CEO of its private equity unit, ahead of a move to sell the domestic private equity business to AXA (AXAF.PA) Private Equity.

While running Natixis Private Equity, Homassel will retain his responsibilities as executive director of strategy at Natixis.

Natixis is in the process of selling its domestic private-equity activities to AXA Private Equity, valuing the portfolio at 534 million euros ($746.5 million).

The bank said the plan is still not definitive, however, and presentations must be made to worker representatives and the board of directors. (Editing by David Holmes)