Federated Investors is “within days” of announcing a controlling stake in the fund manager, which manages £33bn, Sky News reports.
It said Saker Nusseibeh (pictured) had reportedly played a leading role in the discussions.
The news comes as Richard Buxton prepares to lead a buy out of the single strategy business of Old Mutual Global Investors. Last year, Henderson Global Investors merged with US rival Janus and Scottish rivals Standard Life and Aberdeen Asset Management also merged.
Hermes was established in 1983 firstly to manage the assets of its owner, the BT Pension Scheme.
Since 2011 it has been focused on establishing itself as a third-party asset manager, in a strategy led by Nusseibeh and global head of business development Harriet Steel.
Hermes said it does not comment on speculation.
