Italy-based Azimut Wealth Management has appointed Massimo Donatoni as head of its advisory team which is headed by Paolo Martini, according to Investment Europe.

In his new role, Donatoni will be responsible for developing the project of advisory fee which Azimut will launch by the end of the year.

Previously, Donatoni worked for UBS as head of Northeast Italy and chairman of local advisory committee. He joined UBS in 2006 and worked on various roles, such as head of key clients and HNWI.

Prior to UBS, Donatoni has worked as head of investments at Banca Esperia and at Banca Monte dei Paschi di Siena (Mps).

Paolo Martini, sales manager at Azimut, was quoted by Investment Europe as saying: "We are convinced that Massimo will give a boost to our advisory fee project. We are currently working on building a suitable platform for advisory fee services."