Italy-based Generali has established a new asset management company based in Luxembourg.
Known as Generali Investments Luxembourg SA, this company is headquartered in Rome and specializes in mutual funds and alternative funds domiciled in Luxembourg.
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Established via a partial demerger of a joint venture with Banca Generali, the new company will manage manage Ucits and alternative investment vehicles to support global activity of Generali Investments SpA SGR Europe.
Additionally, the firm has named Pierre Bouchoms, former director for global fund services at PricewaterhouseCoopers Luxembourg, as new general manager of the Luxembourg based firm.
Currently, the asset management arm of the Generali Group has a total 350 billion in assets under management, while the group’s Luxembourg fund range includes 14 billion of assets.
Santo Borsellino, CEO of Generali Investments Europe, said: "The launch of Generali Investments Luxembourg is an important pillar of our strategy to expand our third-party business. The company launch will allow his firm "to best serve and further develop the global distributors and wealth management platforms channels."
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