Cherry Bank, bank specializing in business support services, with the transformation of NPL portfolios and the purchase of tax credits, has launched the new "Alternative Investments" division to offer new asset management solutions.
“The products we offer in our new business line will enable investors to gain exposure to markets/asset classes with attractive yields otherwise not accessible,” he said. John Bossi, CEO and founder of Cherry Bank. “We limited ourselves to integrating a business model through the creation of a Division that completes some services offered by the Bank. The Alternative Investments Division will benefit from new resources that enrich the Bank's skills, but integrate perfectly into a mature and complete platform for the asset management activity: origination capabilities, solid organizational model, dedicated teams and investor relations are the keys to success on which we focus”.
Focus first on fixed income, then on the Npl sector
In detail, in the first phase the management mandate will focus on the sector of fixed income preferring investments in listed and unlisted bonds, debt securities issued or guaranteed by governments, local authorities, industrial and commercial companies, money market and financial instruments. Subsequently investments will be planned in the NPL sector through new dedicated management lines. “It is a diversified offer as a fundamental distinguishing feature compared to traditional networks that manage only traditional funds internally. In fact, these banking products are increasingly in demand by professional and institutional customers, two highly customized investment sectors geared towards specific needs” Bossi continues.
The new project started with hiring Andrew Florio, says a note, who boasts consolidated experience in the asset management sector, first as CFO and Head of Business Development of Finanziaria Internazionale SGR and, later, as General Manager of Natissa SGR belonging to the American investor Bain Credit Capital. A new and important internal resource who was immediately dedicated to collecting expressions of interest for investments from the market, aimed precisely at the now definitive opening of the new “Alternative Investments” division of Cherry Bank.
