Banca Generali reports positive mid-year flows
In June, Banca Generali reported net inflows for €139m, with €113m inflows from its banking network and €26m from its private network of the group.
The result was driven by a flows from administred to managed assets, with €29m flows in June and €52m since the beginning of the year.
Since the beginning of the year, net inflows at the bank have been €1.044bn, which cover 83% of overall inflows in 2011. The bank reported the best semester since the onset of the 2008 subprime crisis.
Piermario Motta (pictured), chief executive, said that half year results confirmed Banca Generali’s ability to grow its market share despite the challenging economic conditions.
Meanwhile, the bank is continuing its hiring strategy, with more than 20 hires completed since the beginning of the year to its network of financial advisers.
It is understood that Luca Briola joined the group from Ubi Banca Private as financial adviser.