24/07/2017

LATEST NEWS

Italy is land of opportunity for Goldman Sachs

  • Sunday, 22 November 2015 10:01

The US investment banking group’s SICAV has already risen through the ranks in size of assets, from 43rd to 18th, currently at just over $50bn, while GSAM as a whole has $1.2trn under supervision.

Nick Phillips, head of international third-party distribution at GSAM, said: “If within the next five years we get into the top 10, we will be happy.”

A key part of the next retail-focused step involved Italy, he said: “Our biggest business in Europe is in Italy. At the same time, I also think it’s our biggest opportunity.
New hires

“We’ve just hired two people in Italy who are very experienced individuals who will help us deepen our relationships with the distributors. I will expect us to hire more people in the region to support that growth.”

The two new hires are executive directors Emanuele Negro, previously with JP Morgan Asset Management, and Matteo Buonomini, formerly head of advisory with Fidelity, who both report to team head Loredana La Pace.

The others making up the eight-strong team in Italy are Marta Sigismondi, executive director; Claudio de Flilippo, associate; Damiano Pedergnani, analyst; Alessandro Verdirrame, analyst; and Veronica Milani, analyst.
Italian attraction

GSAM cites a number of reasons as to why Italy is an important market, including the fact no foreign manager holds more than a 3% share of the overall Italian open-end fund market and that this group of managers has grown its market share significantly during the past five years.

The proportion of assets Italian households allocate to investment funds has now returned to growth, according to Assogestioni, the Italian association of asset managers.

Phillips said other countries where the SICAV was distributed, which covers EMEA, Asia and Latin America, were mostly at the size that he wanted them to be.

“Though we tend to have two or three strategic clients in each country, we are expanding that to three or four, depending on where we are in the evolution of that local business.”
- See more at: http://www.international-adviser.com/news/1025582/italy-land-opportunity-goldman-sachs#sthash.OGw855u5.dpuf

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15

Iranian Voices Slam Donald Trump’s Reported Visa Ban as ‘Shameful’

Iranian Voices Slam Donald Trump’s Reported Visa Ban as ‘Shameful’

 TEHRAN, Iran — President Donald Trump provoked an angry backlash from Iranian voices after reports he would block visas for citizens of seven Middle Eastern and African countries and temporarily...

Read more

These are the world's most powerful passports

These are the world's most powerful passports

Germany takes the lead with a visa-free score of 157. Singapore overtakes South Korea and becomes the highest ranked Asian passport, with a visa free score of 156, coming second...

Read more

Curtailment of 30,000 student visas each year sparks row

Curtailment of 30,000 student visas each year sparks row

More than 30,000 non-EU students a year have had their visas curtailed by the Home Office in the past three years, figures obtained by BBC News show. And 410 educational establishments...

Read more

Calls for inquiry after evidence for UK student deportations ‘comprehensively demolished’

Calls for inquiry after evidence for UK student deportations ‘comprehensively demolished’

The Home Office is facing calls to launch a parliamentary inquiry into Theresa May’s immigration policies after a tribunal found thousands of foreign students may have been unfairly deported. The UK’s...

Read more

Americans and Canadians might need visas for Europe

Americans and Canadians might need visas for Europe

Be prepared! You might need a visa for your next European holiday or business trip. The European Union is considering requiring Americans and Canadians to apply for visas, even if they...

Read more

EU chokes on US visa dispute

EU chokes on US visa dispute

Bulgaria and Romania want the EU to impose visas on US nationals. It probably won’t happen. But EU officials’ attempts to “wiggle” out of the situation haven’t gone down well. The...

Read more

Turkey moves closer to EU visa-free travel

Turkey moves closer to EU visa-free travel

Turkey is moving closer to being granted visa-free travel to the European Union. It could be in force by the end of June.   The bloc’s executive, the EU Commission, has said...

Read more

EU might require visas for U.S. and Canadian visitors

EU might require visas for U.S. and Canadian visitors

Visa-free travel throughout the EU’s Schengen region may be coming to an end.Currently, Americans and Canadians only need a passport to visit the EU while visitors from other countries like...

Read more

Italian PM in Tehran with large delegation

Italian PM in Tehran with large delegation

Italy’s Prime Minister Matteo Renzi is in Iran for a two-day visit at the head of a large delegation to upgrade relations which have been warming following a nuclear agreement...

Read more

Germany, Turkey to Intensify Illegal Immigration Fight

Germany, Turkey to Intensify Illegal Immigration Fight

Merkel has refused to restrict asylum conditions and has sought to persuade Turkey to crack down on people smuggling BERLIN—Germany and Turkey on Friday pledged to intensify efforts to fight...

Read more

Iranian citizens fear US visa waiver bill: ‘It’s just unfair’

Iranian citizens fear US visa waiver bill: ‘It’s just unfair’

Iranian citizens who have ties to the United States are anxious about a new bill that would no longer allow them to be part of the visa waiver programme. If...

Read more

Iranian dual citizens fight new US visa rules

Iranian dual citizens fight new US visa rules

Dual citizens from Iraq, Iran, Syria and Sudan are protesting against a new US programme that restricts their travel.Neysun Rouhani and his wife live in the UK. He's a concert...

Read more

Germany should invest more to help euro zone grow - Commission

Germany should invest more to help euro zone grow - Commission

Nov 26 Germany and the Netherlands, which have big current account surpluses, should invest more to help boost economic growth and inflation in the whole euro zone, the European Commission...

Read more

Australia and Germany sign new tax treaty

Australia and Germany sign new tax treaty

Australia and Germany have signed a new treaty on tax in the first step towards growing trade and investment between the nations and improving the integrity of the tax system...

Read more

560 Egyptian child migrants reach Italian shore: Minister of immigration

560 Egyptian child migrants reach Italian shore: Minister of immigration

Italy is reportedly providing residence for the children as well as shelters where they are learning crafts A boat carrying no less than 560 Egyptian child migrants reached Italian shores...

Read more