Italy's Banca Generali has poached Alessio Gerbella from Credem to be the manager of its asset management division.
Gerbella, who has been leading Credem's asset management business for the past 12 years, will now be responsible for leading the asset management unit of Banca Generali - led by Gian Maria Mossa - with a particular focus on a family office model.
This model aims at reducing volatility through the implementation of liquid alternative and flexible strategies while combined with high conviction choices too.
Before joining Generali, Gerbella worked at firms including Euromobiliare Advisory Sim, where he was a lead portfolio manager. Prior to that, he worked as a hedge fund manager at Intesa Sanpaolo during seven years. During this time, he was first in charge of asset management, then he was head of absolute return, and finally manager of the firm's asset management area, Italy's financial site We WEALTH has reported.
The Italian insurer said its net profit last year amounted to €2.3bn while operating profit stood at €4.86bn, according to Reuters' data.