Previndai has appointed Anna Maria Selvaggio as general manager, succeeding Oliva Masini who led the €16bn Italian pension fund for company managers for more than a decade.
Selvaggio joins from Fon.Te., the €6.7bn occupational pension fund for the commerce, tourism and services sectors, where she had been general director since 2017. She took up the new role at the start of November.
Previndai said Selvaggio brings “extensive experience” in the pension industry, as well as “in-depth knowledge” of sector regulations and pension fund governance.
“With this appointment, Previndai begins a new phase, aimed at further strengthening its role and improving the quality of services for its members, while addressing with determination the transformations currently underway and the challenges that lie ahead for the [pension] sector,” the pension fund said in a statement.
Italian pension funds are adapting their operations and introducing life-cycle investment options to meet the requirements of the ongoing occupational pension reform. Previndai has recently adopted a life-cycle model in line with guidelines issued by the country’s pension regulator Covip.
Selvaggio’s appointment follows changes to the fund’s governance structure, including the appointment of Francesca Brunori as president and Giuseppe Straniero as vice-president, alongside a new board of directors for the 2026-29 term.
Before joining Fon.Te. as general director, Selvaggio headed the president’s secretariat and legal department at Enasarco, the pension fund for commercial agents and sales representatives.
During her tenure at Fon.Te., she supported the fund’s organisational development and oversaw its growing exposure to private markets.
Previndai is increasing its private markets allocation to 12% of its portfolio. It has also established a new sub-fund, Prudente, “to strengthen the range of low-risk solutions” available to members, the fund said. The sub-fund is managed by Eurizon, according to Previndai’s latest financial statement.
