Fideuram - Intesa Sanpaolo Private Banking and Man Group close Asteria transaction and launch new partnership

Milan, London.

• Man Group takes over 51% of asset manager Asteria, while F-ISPB holds 49%
• Approval and clearance received from FINMA and antitrust authorities

Further to the announcement of a strategic asset management partnership on 29 June 2023, Fideuram – Intesa Sanpaolo Private Banking (“F-ISPB”) and Man Group are pleased to confirm that regulatory approvals have now been obtained. Man Group has taken a 51% interest in Asteria Investment Managers (“Asteria”), the Geneva-based, ESG-oriented asset manager, including its existing fund range, while F-ISPB retains 49%.

The completion of the Asteria transaction is the first step in the new partnership. The focus will now be on building out its offering by creating a range of technology-enabled alternative and long-only investment strategies, combining Man Group’s expertise in bespoke portfolio solutions, the strong investment management capabilities of both Man Group and Asteria and F-ISPB’s private banking expertise, financial advisor network and client base.

Tommaso Corcos, CEO and General Manager of Fideuram – Intesa Sanpaolo Private Banking, said:

"In an ever-evolving global financial landscape this partnership with an international asset manager will help us to support the discerning needs of our private banking clients and exemplifies our commitment to delivering unique investment solutions to our high-net-worth customers."

Steven Desmyter, President at Man Group, added:

"We’re excited about the possibilities this joint venture opens up. The F-ISPB team has exemplary local knowledge and we share its commitment to innovation and excellence. Working side-by-side puts us in a great position to generate a new set of relevant investment solutions for clients in Europe as we seek to address their varied performance, portfolio construction and risk management needs."