Surprise move by General Bank, the company of the Leone group listed on the Stock Exchange and specialized in private banking and asset management, which presented a binding offer (already accepted by the counterparty) for take over 100% of Nextam Partner, a Milanese financial boutique active in asset and asset management, mutual and alternative funds and advisory.
Nextam, founded over twenty years ago and has become a real gem, is led by Charles Gentiles, is chaired by Gustavo Visentini and has among its senior partners well-known figures in the financial community such as Nicholas Ricolfi e Alexander Michaelles. The decision to sell offers her the opportunity to join a group with broad shoulders and a company like Banca Generali which has a spectacular total return and which, under the dynamic guidance of Gian Maria Mossa, continues to grow in the world of asset management and wealth management.
This operation also fits perfectly into the strategy of the Generali group which, at the instigation of CEO Philippe Donnet, wants develop its presence in asset management also with targeted acquisitions in Italy and abroad to balance the classic insurance business.
But that relating to Nextam is not the only news today at Generali. The Lion company has announced the signing of an agreement with the German group Union Asset Management Holding AG for the acquisition of 100% of Union Investments TFI, a Polish asset management company with 3,3 billion assets under management.
The operation, which aims to strengthen Generali's presence in Poland, will have to be approved by the regulatory authorities.
Timothy Ryan, CEO of Generali Asset Management, said: “In addition to our multi-boutique platform for Europe announced in May 2017, we want to benefit from the growth opportunities in the CEE area, especially in Poland, the most significant market in the area. We will leverage on the strong position of Generali Poland and Union Investment TFI, combining our expertise with that of local experts with an excellent track record, to ensure the best possible investment solutions for our clients”
