US asset manager Neuberger Berman has signed a deal with Italian player Fideuram – Intesa Sanpaolo Private Banking to distribute its UCITS funds in Europe, the firm has announced.
Neuberger Berman has 31 UCITS funds, which include long only equity strategies, long short strategies and a range of long and short duration fixed income funds across a number of markets. The funds are domiciled in Ireland.
The deal with Fideuram – Intesa Sanpaolo will make these funds available to the private bank’s network of more than 5000 private bankers.
Neuberger Berman’s head of EMEA and LatAm Dik van Lomwel (pictured) said: “This is a key milestone in our strategy in Italy, which is a very important market for us. We have a meaningful collaboration with Intesa Sanpaolo that started last year in May when we established a strategic partnership in private equity.”
Fideuram – Intesa Sanpaolo Private Banking chief executive Paolo Molesini said he was “delighted to reinforce the relationship” with Neuberger Berman.
As reported here earlier this month, Banco Intesa Sanpaolo announced in December that it would soon be opening its first private banking outpost in London, under the Fideuram – Intesa Sanpaolo name, as it looked to cater to Italian expatriates and others living in and around London.
The new operation is being based at the company’s City of London offices.