Hartford Financial Services Group Inc. isn’t commenting on published reports that it is shopping its $104 billion-asset mutual fund operation.
The Hartford spokesman David Snowden told HBJ Today Thursday that the insurance and financial services giant does not comment on media speculation about its business.
However, Bloomberg News, citing anonymous sources, reports Goldman Sachs and UBS AG, with major Stamford operations, are The Hartford’s financial advisors and bankers for the purported deal that could yield as much as $1.5 billion.
Bloomberg did not name potential bidders.
UBS did not immediately return a call Thursday for comment. Goldman Sachs could not be immediately reached.
Last October, The Hartford sold off its C$1.75 billion-asset Canadian mutual funds business to CI Financial Corp.
In March, it sold its Specialty Risk Services third-party claims administrator business for $278 million to Tennessee rival Sedgwick Claims Management Services.
