Fideuram – Intesa Sanpaolo Private Banking and Man Group close Asteria transaction and launch new partnership

Milan, London, 31 October 2023

  • Man Group takes over 51% of asset manager Asteria, while F-ISPB holds 49%
  • Approval and clearance received from FINMA and antitrust authorities

Further to the announcement of a strategic asset management partnership on 29 June 2023, Fideuram – Intesa Sanpaolo Private Banking (“F-ISPB”) and Man Group are pleased to confirm that regulatory approvals have now been obtained. Man Group has taken a 51% interest in Asteria Investment Managers (“Asteria”), the Geneva-based, ESG-oriented asset manager, including its existing fund range, while F-ISPB retains 49%.

The completion of the Asteria transaction is the first step in the new partnership. The focus will now be on building out its offering by creating a range of technology-enabled alternative and long-only investment strategies, combining Man Group’s expertise in bespoke portfolio solutions, the strong investment management capabilities of both Man Group and Asteria and F-ISPB’s private banking expertise, financial advisor network and client base.

“In an ever-evolving global financial landscape – says Tommaso Corcos, CEO and General Manager of Fideuram – Intesa Sanpaolo Private Banking this partnership with an international asset manager will help us to support the discerning needs of our private banking clients and exemplifies our commitment to delivering unique investment solutions to our high-net-worth customers.”

“We’re excited about the possibilities this joint venture opens up,” added Steven Desmyter, President at Man Group. “The F-ISPB team has exemplary local knowledge and we share its commitment to innovation and excellence. Working side-by-side puts us in a great position to generate a new set of relevant investment solutions for clients in Europe as we seek to address their varied performance, portfolio construction and risk management needs.”

* * *

About Fideuram – Intesa Sanpaolo Private Banking

Fideuram – Intesa Sanpaolo Private Banking is part of Intesa Sanpaolo Group and brings together the Group’s financial advisory, asset management and fiduciary services expertise. The company is the leading private bank in Italy and among the European leaders, with €343.6 billion of AuM, international presence, and competences both in liquid and private markets, to support its private bankers and clients. More than 6,600 private bankers operate in its networks: Fideuram, Intesa Sanpaolo Private Banking, Sanpaolo Invest, IW Private Investments and the foreign companies Reyl Intesa Sanpaolo and Intesa Sanpaolo Wealth Management.

About Man Group

Man Group is a global, technology-empowered active investment management firm focused on delivering alpha and portfolio solutions for clients. Headquartered in London, we manage $161.2 billion* and operate across multiple offices globally.

We invest across a diverse range of strategies and asset classes, with a mix of long only and alternative strategies run on a discretionary and quantitative basis, across liquid and private markets. Our investment teams work within Man Group’s single operating platform, enabling them to invest with a high degree of empowerment while benefiting from the collaboration, strength and resources of the entire firm. Our platform is underpinned by advanced technology, supporting our investment teams at every stage of their process, including alpha generation, portfolio management, trade execution and risk management.

Our clients and the millions of retirees and savers they represent are at the heart of everything we do. We form deep and long-lasting relationships and create tailored solutions to help meet their unique needs.

We are committed to creating a diverse and inclusive workplace where difference is celebrated and everyone has an equal opportunity to thrive, as well as giving back and contributing positively to our communities. For more information about Man Group’s global charitable efforts, and our diversity and inclusion initiatives, please visit: https://www.man.com/corporate-responsibility

Man Group plc is listed on the London Stock Exchange under the ticker EMG.LN and is a constituent of the FTSE 250 Index. Further information can be found at www.man.com

*As at 30 September 2023. All investment management and advisory services are offered through the investment engines of Man AHL, Man Numeric, Man GLG, Man FRM, Man Varagon, Man Global Private Markets and Man Solutions.

Contact

  • Silvia Padula
    Asteria Investment Managers, Head of Marketing
    Tel: + 41 (0)22 816 89 50

 

 

Contacts mentioned herein retain the right to record any telephone calls made to them for training and monitoring purposes.