Durham's Smith Breeden to be Acquired by French Company

An agreement has been signed to make Durham's Smith Breeden Associates a subsidiary of Amundi, a Paris-based firm that had about $955 billion in assets under management as of March. The Durham firm, which has about $6.4 billion in assets under management, will change its name to Amundi Smith Breeden following the acquisition, which is expected to close by the end of September.