The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Amundi, a European asset manager, has welcomed the announcement by Texas-based Victory Capital Holdings that it has agreed to acquire New York-based First Eagle Investments, for a consideration of about $7 billion, thus creating a $571 billion diversified global asset manager.

Amundi, which distributes the US and global strategies of both Victory Capital and First Eagle to its clients outside of the US, said it is pleased that this distribution partnership will continue and develop after the transaction closes under Victory Capital's leadership.

“Victory Capital and First Eagle are two excellent asset managers that we know intimately – we have been distributing their high-performing US and global strategies to our clients outside of the US for years,” ValĂ©rie Baudson, Amundi’s chief executive officer, said. “As Victory Capital's strategic shareholder and the distributor of its investment solutions outside of the US, Amundi is fully supportive of this deal and looks forward to the next chapter of this partnership."

Amundi holds a 27 per cent economic interest in Victory Capital Management. Based on the projected financing structure of the deal, Amundi will remain the largest shareholder of Victory Capital after the transaction closes, the firm continued. Also, based on these projections, the full integration of First Eagle by Victory Capital and the full delivery of the anticipated synergies will have a positive impact on Amundi's earnings per share, .