Allfunds adds to Italian team

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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.

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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