Old Mutual Global Investors has appointed Cristiano Busnardo to head its Italian office as the asset manager seeks to increase its presence in Europe.
In the newly created role, Busnardo will head sales relationships with Italian wealth managers, private banks, family offices, pension funds, insurance and asset management companies.
He will be based in OMGI’s Milan branch, which is subject to regulatory approval, and report to the firm’s head of international distribution Allan MacLeod.
“European distribution continues to be a core growth area for OMGI,”MacLeod says. “Appointing dedicated specialists to each region reflects our ambitious growth plans for our international business and our desire to focus on the particular needs of clients in each region.
As of 30 June, OMGI manages £3.9bn for clients across Europe with £106.8m of these coming from Italian investors. The group has also a distribution presence in the DACH countries, the Nordics, Benelux, France and Iberia.
“We are known to a number of clients in Italy already, but are keen to broaden our presence in the region and I am confident that Cristiano joining us will enable OMGI to intensify its efforts.”
In his previous role, Busnardo was deputy general manager and head of sales for Allfunds Bank SA in Milan.
He has also worked in a number of senior sales and distribution positions in Italy, including Prima SGR and Societe Generale Asset Management Italia SIM.
Busnardo says: “Looking at the last quarter of 2016, and ahead into 2017, financial markets look set to be in for a bumpy ride, with Italian investors in particular facing an ambiguous macro-economic environment.
“However, these challenges present opportunities, which I look forward to tackling head on, armed with OMGI’s innovative and flexible investment solutions.”