The Milan-based branch of Eastern and central Europe investment banking group Wood & Co has reached a strategic asset management partnership with German group DekaBank.
The deal will see Wood & Co as the sole distributor of DekaBank’s investment funds and mandates dedicated to Italian institutional investors.
DekaBank has some €270bn of customers assets under management as of end June 2017.
It is understood the agreement with DekaBank will be further extended to DekaBank’s institutional clients in France, French and Italian-speaking Switzerland, Monaco, Malta, Andorra and Eastern Europe.
Marco Brambilla, ex-managing director of DekaBank’s Italian branch, has been named head of Asset Management at Wood & Co.
He said Wood & Co’s asset management business will not be limited to the partnership tied with DekaBank. The firm will look at working with other local and global institutional-focused asset managers.