ITALY – Fortis Investment Management has opened a sales office in Milan, following the establishment of offices in Frankfurt and Vienna last year.

FIM, part of Benelux-based Fortis Bank, is currently in the process of hiring the team for the office, and will announce the new positions, including head, in the near future, said a spokesman.

Senior sales manager, Andrea Succo has been hired, however, having worked for FIM in Luxembourg and Brussels.

Italy is regarded as forming a core element of FIM’s sales strategy and is seen as offering a high potential for asset management products. Succo describe Italy as “one of the most challenging markets for a European active fund management company.”

Fortis Investment Management has 70 billion euros in assets under management.