SGAM Asia JVs excluded from CAAM deal

Although first announced in January, the merger of Credit Agricole and Societe Generale's asset management businesses has not yet begun in practice.The two firms have now signed a formal agreement in Paris to carry out the deal, which will create a new entity with €591 billion ($830 billion) of assets, which it says will make it the world's eighth largest asset manager.The deal still has to be cleared by a number of regulatory agencies around the world, notably those in China, where t…