Oddo AM makes major hire to double assets by 2015
Oddo Asset Management has appointed Lorenzo Gazzoletti (pictured) as deputy managing director to develop the group’s institutional business.
Italy, Germany, Switzerland and Benelux have been identified as priorities for places to target new investors.
Gazzoletti, who has also been appointed a member of the group’s executive committee, will be in charge of developing its domestic and foreign institutional clients. He will replace Taslé d’Héliand, who is now chairman of Oddo Banque Privée.
Gazzoletti was previously chairman of the board of directors at La Banque Postale Gestion Privée, where he oversaw its assets under management grow more than 10-fold from €120m to €1.3bn in just three years.
La Banque Postale Gestion Privée is a wealth management group set up in 2008, and 49% owned by Oddo & Cie group. La Banque Postale owned the remaining, controlling stake.
Oddo Asset Management is a subsidiary of Oddo & Cie, the €22bn independent financial services group founded over 160 years ago.
Its activities include investment banking and capital management, brokerage on the equity and bond markets, financial analysis, private banking, and asset management.
Most recently it hit the headlines in June by using €100m to launch a merger arbitrage fund established by former prop traders from Banque d’Orsay when the French bank was bought out by Oddo & Cie.