Fideuram - Intesa Sanpaolo Private Banking and Man Group announce strategic asset management partnership

29 June 2023

Fideuram – Intesa Sanpaolo Private Banking (“F-ISPB”) has identified Man Group as the right partner to further diversify its offering. The leading private bank in Italy and among the largest in Europe and Man Group, the global, technology-empowered active investment management firm, announce today a new strategic partnership designed to generate innovative new investment opportunities for F-ISPB’s clients.

The agreement will see Man Group take an initial 51% interest in Asteria, a Geneva-based, ESG–oriented asset manager, including its existing fund range, while 49% will remain to Fideuram – Intesa Sanpaolo Private Banking. The team at Asteria has a track record of developing innovative solutions for the wealth management space and already has three funds with sustainable investment objectives.

The partnership will focus on building out the offering, creating a diverse range of technology-enabled alternative and long-only investment strategies, bringing together 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. It will also be able to leverage F-ISPB and Man Group’s considerable distribution capabilities across Europe, with an initial focus on Italy.

The agreement announced today – subject to customary regulatory approvals – is expected to be completed by the end of 2023 and will not have any impact on F-ISPB’s existing partnerships and inhouse product manufacturing capabilities.