Axa head calls for code on profits

The head of Axa Private Equity, Dominque Senequier, has called for Europe's private equity industry to draw up a voluntary code of conduct on how profits made from deals should be split among investors, managers and staff.

The call comes after several deals in France triggered public uproar about payouts to the managers of target companies. In an interview, Senequier said that she believes the industry needs to be prepared for demand for transparency and ethics on management packages by the public.

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• Southern Europe