ITALY – Marco Fusco has moved from ING Asset Management Italy to head up head of distribution at AXA Investment Managers Italia.

Fusco was director of institutional sales at ING Asset Management Italy, before being promoted to head of business development for the institutional business in June following the departure of Carlo Benetti.

In his new role at AXA IM Italy, Fusco will be head of institutional clients and retail distribution. He will report to Alessandro d’Andrea di Pescopagano, country manager of AXA IM Italia since February.

AXA says the appointment is part of the continued re-launch of the Italian business.

AXA IM Italia has operated in Italy since 1999, specialising in product distribution (including the products of AXA Rosenberg) through third party and group distribution networks. It is 99.9% owned by AXA IM.

AXA IM now manages assets for a total amount of nearly one billion euros in Italy. AXA IM yesterday named Paul Griffiths as its UK chief investment officer.