Eurizon, the asset management company of Intesa Sanpaolo, acquired from Popular Agricultural Bank of Ragusa investment portfolio management service FinanceSouth Sim, a wholly owned subsidiary of Bapr.
As at 31 December 2020, FinSud Sim managed assets for approximately 430 million euro, of which just over 170 million in portfolio management of the Bank's customers.
"The development of new partnerships with third-party operators - commented Saverio Perissinotto, Eurizon's Chief Executive Officer - represents an important lever for consolidating our position in the sector in Italy".
Saverio Continella, general manager of Bapr, explained that "the conclusion of this operation, on the one hand completes the process of rationalizing costs and organizational efficiency within the Group, and, on the other, is a further driving force to continue investments aimed at strengthening the prospective strategic positioning”.
