Italian asset manager Azimut CEO and director Sergio Albarelli has stepped down from his post after being at the helm for over two years.
Albarelli’s resignation is said to have been triggered by personal reasons. The move will be effective on 25 January 2019.
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The board has now co-opted Gabriele Blei as director. The firm is expected to decide on a replacement for CEO next April.
Albarelli has an experience of more than 25 years in the asset management industry. Previously, he worked at Deutsche Asset Management in Italy and also led the Italian office of Franklin Templeton.
Albarelli said: “The journey that has been accomplished in Azimut has been a successful one, with the launch of over 60 new projects focussed on renovating internal processes and introducing further new ones. Such an articulated effort will allow the Group to have one of the most advanced IT systems by July 2019, able to guarantee an even more efficient service towards clients and financial advisers.
“From October 2016 up until today, the Group’s total assets increased from 42 to 52bn euros, with over €11bn of net inflows of which 7bn coming from abroad.
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By GlobalData“The strong international presence is a consequence of a well-structured initiative, and is the most significant example of the validity of an international growth path launched a few years ago, accomplishing today important goals and reaching more than 25% of the Group’s total assets.”
