Reuters- F&C Asset Management has "excellent prospects as a standalone company", its chief executive said on Thursday, but it was reviewing all options after Friends Provident said it aimed to sell its majority stake. <\/p>\n
Alain Grisay told reporters on a conference call that F&C had appointed adviser Lazard and Lexicon Partners to help the UK fund manager decide on its future, including a sale or remaining independent through a management buyout of Friends’ 52 percent stake.<\/p>\n
"It is early days yet. We will look at every opportunity," he said. The fund manager said it had so far received no bid approaches.<\/p>\n
Friends Providen "will not be rushed into a disorderly process which damages the stability of our business", said Grisay, after the troubled UK insurer said on Thursday it would sell its stake in F&C and high-end unit Lombard as part of a radical overhaul of its business.<\/p>\n