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Italy's Generali sets up Luxembourg firm

Luxembourg-on mapGenerali has set up a Luxembourg-based asset management firm to manage Ucits and alternative investment vehicles as the Italian company aims to increase its third-party business.

Generali Investments Luxembourg will be the management company for the group's existing Luxembourg fund range, which includes €14 billion of assets out of a total €350 billion for the Generali Investments Europe business. The Luxembourg company is being established through a partial demerger of a joint venture with Banca Generali.

“The launch of Generali Investments Luxembourg is an important pillar of our strategy to expand our third-party business,” says Santo Borsellino, chief executive of Generali Investments Europe, who adds that the company launch will allow his firm “to best serve and further develop the global distributors and wealth management platforms channels”.

Pierre Bouchoms will be general manager of the Luxembourg firm. Before joining Generali he was director for global fund services for PricewaterhouseCoopers Luxembourg.

Generali Investments Europe is the asset management division of Generali Group, an insurance firm with headquarters in Trieste, Italy.

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