Santander to buy BNP Paribas' Mexico asset management business

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MEXICO CITY, Dec 13 (Reuters) - Grupo Santander's SAN.MC asset management arm has reached an agreement to buy BNP Paribas' BNPP.PA asset management operation in Mexico, the Spanish bank said on Wednesday.

Santander, which did not give details about the cost of the purchase, said it would allow the bank to "incorporate life cycle strategies and enter the insurance business for the administration of technical reserves" in Mexico.



(Reporting by Kylie Madry; Editing by Sarah Morland)

((Kylie.Madry@thomsonreuters.com;))

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