Fideuram - Intesa Sanpaolo Private Banking with Man Group in Asset Management

Fideuram - Intesa Sanpaolo Private Banking (“F-ISPB”) and Man Group announce a new strategic asset management partnership designed to generate innovative new investment opportunities for F-ISPB’s clients, by combining:

• F-ISPB’s private banking expertise in Europe
• Man Group’s investment solutions capabilities

The partnership will focus on building out the offering, creating a diverse range of technology-enabled alternative and long-only investment strategies.

The agreement will see Man Group take an initial 51% interest in Asteria, a Geneva-based, ESG-oriented asset manager, including its existing fund range, while 49% will remain to Fideuram – Intesa Sanpaolo Private Banking.

Partnership's strength points include:

• Man Group’s expertise in bespoke portfolio solutions
• strong investment management capabilities of both Man Group and Asteria
• F-ISPB’s private banking expertise, financial advisor network and client base
• F-ISPB and Man Group’s considerable distribution capabilities across Europe, with an initial focus on Italy

The agreement – subject to customary regulatory approvals – is expected to be completed by the end of 2023.