ITALY/UK - Scottish Widows Investment partnership and the Italian investment bank Banca Finnat Euroamerica have teamed up for Italy’s institutional market.
Giampiero Nattino, chief executive of Banca Finnatica told IPE that the partnership, although already operative, would effectively start in September, at the end of the summer break.
He explained that Banca Finnatica, a stock exchange intermediary for Italian banks, and SWIP would be aiming at the foundation, corporate and organisation market. He declined to elaborate further.
He said Banca Finnatica would deal with the technical side of the deal, leaving the management of assets to SWIP, which he said was a respected financial agent in the country.
“I am sure the Italian market will take advantage of the opportunity offered by Banca Finnat and SWIP’s partnership,” Nattino said.
“I am very proud to sign a partnership with such a prestigious institution. We intend to grow significantly in the institutional client segment,” he continued.
SWIP has been active in the Italian market managing institutional funds in asset classes like European and Japanese specialist equities.
Chris Walker, head of SWIP’s institutional business, said: “Italy is a major priority for the growth of our business.”
“This partnership is tailor-made for the demands of Italian institutions and will deliver considerable success in the years ahead.”
SWIP recently won a 165 million-pounds mandate from the British American Tobacco UK Pension Fund.