ITALY - The Bank of New York has boosted its Milan office with hires from BNP Paribas and Credito Emiliano in a bid “to exploit new opportunities in this growing market”.

Credito Emiliano’s head of international relations, Mauro Bonacina, and Chiara Roti, relationship manager at BNP Paribas Securities Services in Paris, have taken up the posts of relationship manager and product relationship manager, investor services. Both the positions are new.

Roti and Bonacina will join a team of nine. They will focus on developing and maintaining relationships with existing clients, with Bonacina managing cash management and trade products, and Roti covering investor services.

Bonacina has 20 years of financial product development experience and joins from Credito Emiliano where he worked for five years. Credito Emilano-Credem is present in 18 Italian regions, Switzerland and Luxemburg and also acts as asset manager.

Roti has worked for over three years as a relationship manager.

Adriana Pierelli, Italy country manager, said: "Client service is a top priority and these appointments will help us continue to deliver an outstanding level of service. The expansion of the Italian team will allow the bank to exploit new opportunities in this growing market.”

The Bank of New York last month named Angus Cameron as chief financial officer for its operations in Europe, also a new role.

The bank’s European operation has annual revenues of 888 million dollars and 4,500 employees.