Old Mutual Global Investors (OMGI), has announced the appointment of Cristiano Busnardo, in a newly created position of country head, Italy.
Based in OMGI’s new Milan branch, subject to regulatory approval, Busnardo will be responsible for driving OMGI’s growth within Italy. He will report to Allan MacLeod, head of international distribution.
Since its formation in 2012, OMGI, part of Old Mutual Wealth, has steadily developed a European presence and now manages £3.9bn for clients across Europe (ex UK) with £106.8m on behalf of Italian investors, the com[any said in a statement announcing he appointment today.
Busnardo has over 20 years’ experience working in the financial services industry in sales and marketing roles. His previous position was deputy general manager, head of sales for Allfunds Bank, Italian branch, based in Milan, a role he held since September 2011.
Prior to this he has worked in a number of senior sales and distribution positions in Italy, including two years at Prima SGR and nine years as country manager at Societe Generale Asset Management Italia SIM. He started his career in 1992 at ING group.
OMGI has been busy increasing its international exposure in recent times with a series of fund manager and distribution hires, particularly in Aisa with appointments in Singapore and China, as reported.
The statement said that this appointment completes OMGI’s European sales team and represents OMGI’s second “on-the-ground” presence in mainland Europe. In addition to Italy, the team oversees distribution within the following regions: DACH, the Nordics, Benelux, France and Iberia.
Allan MacLeod, head of international distribution, said: “European distribution continues to be a core growth area for OMGI. “We are known to a number of clients in Italy already, but are keen to broaden our presence in the region.”
Busnardo added that 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”. “These challenges present opportunities, which I look forward to tackling head on,” he added.