Eurizon strengthens in Asia. The asset management company of the Intesa Sanpaolo Group has decided to strengthen the structure of the subsidiary in Hong Kong with the entry of a team with extensive experience in the asset management sector. The aim is to accelerate the expansion of the business and become a center of excellence in investments on the emerging markets of the Asian air where Eurizon manages 312 billion euros of heritage. Including the stake in Penghua Fund Management, total assets exceed 400 billion euros.
“The initiative has a strategic value, in line with the industrial plan of the Intesa Sanpaolo Group 2018-2021, which sees in growth of Eurizon on international markets one of the main drivers of development in wealth management”, explains the company in a note.
The Hong Kong center will also provide support to the companies of the Intesa Sanpaolo group present in China: Penghua, a local asset manager 49% owned by Eurizon, and Yi Tsai, a wealth management company 100% owned by the International Subsidiary Banks Division.
Sean Debow will be at the helm of Eurizon Capital Hong Kong, who will hold the position of Chief Executive Officer. “Welcome to the Asset Management division – said the CEO of Eurizon, Saverio Perissinotto – to Sean Debow and the team of professionals. The consolidated knowledge and experience of the Asian market of the new team will be of great support in accelerating Eurizon's growth in Asia, integrating better with our managers who have been working in Hong Kong for years, and will also allow us to expand and diversify the range products for the benefit of all our customers”.
“My colleagues and I are proud – he said Sean Debow – to be part of a prestigious reality in the panorama of international asset management such as Eurizon and a solid Group such as Intesa Sanpaolo. Together with the entire Hong Kong team, we want to create value for investors, contribute to business development and enhance the Eurizon brand in the Asian area”.
