French asset manager Amundi is set to be floated on the French stock exchange by the end of 2015, allowing part-owner Société Générale to sell its remaining stake in the firm it help found.

Amundi was set up in 2010 after the merging of the asset management businesses of French banks Société Générale and Crédit Agricole, with the latter currently owning 80% and expected to retain majority control of the firm.

The banks said they wanted to secure a listing by the end of 2015, subject to market conditions, and after plans had been submitted to trade unions.

Amundi’s owners said floating the €954bn manager would help develop its ambitious business plans while providing additional liquidity to Société Générale as it looks to sell the entire 20% share.

When Amundi was formed in 2010 by the two banks, Société Générale’s eventual exit was pre-determined, and it has slowly sold its stake to the rival banking group.

The bank also wholly owns Lyxor Asset Management, a €128bn manager focused on exchange-traded funds and absolute-return strategies.

Société Générale will continue using Amundi for investment solutions for its retail and insurance networks on a five-year arrangement, which could be extended further.

Crédit Agricole said it intended to play a key role in the development strategy for Amundi and would continue setting out its strategy.

In March last year, Amundi was set the target of reaching €1trn AUM by 2016, as Crédit Agricole added another 5% of ownership from Société Générale.

The manager, which focuses primarily on fixed income, equities and absolute-return strategies, set out plans to grow organically across Asia and Europe while making acquisitions of mid-sized asset management firms.

Prior to announcing the potential exchange listing, Amundi said had hired Vincent Mortier as deputy CIO – who joined from Société Générale.

Mortier worked at the French bank since 1996 and was senior manager in the firm.

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