Allfunds adds to Italian team
Michele Colavito has been appointed sales manager in Italy for Allfunds Bank, as part of the distribution platform’s development of its local business presence.
Colavito, who previously worked at Société Générale Securities Services, will report to Cristiano Busnardo, Italy deputy director and head of Sales, who helps oversee the €60bn in intermediated assets on behalf of local investors via channels such as private banks, life insurance, asset management and retail distribution. Allfunds overall has some €145bn in assets under administration.
Allfunds reported that its Italian business grew 14% in the first half of this year.