Old Mutual Global Investors (OMGI) has signed a distribution agreement with BNL-BNP Paribas Private Banking for the distribution of its funds in Italy.
The deal, which confirms the focus of OMGI on Italy’s retail clients, will enable OMGI to distribute its funds through BNL-BNP Paribas Private Banking network, thus strengthening its presence in the Southern European country.
BNL-BNP Paribas Private Banking is an integral part of BNP Paribas Wealth Management combining the skills of BNP Paribas with the expertise of the bank BNL, close to the needs of the Italian market.
The firm, with some €34m in AUM, is present in over 100 Italian economic-financial centres and has almost 350 private bankers.
Cristiano Busnardo, country head Italy at Old Mutual Global Investors, said: “Having entered Italy around a year ago, our focus initially was on the wholesale market. Now we are have signed a distribution agreement with BNL-BNP Paribas Private Banking, among the recognised leaders in this field, which will help us to further increase our presence in the territory.
“This agreement will enable us to increase and diversify our distribution network, also helping us to build the image of our brand among retail investors.
“Competition within the Italian retail market has further increased in recent months, therefore, it is more important than ever for active managers to offer innovative and highly performing strategies.”