Italy’s Arca SGR confirms changes to governance structure
Italy’s asset manager Arca SGR has announced a new governance structure, aimed at enhancing the independence and the future growth of the firm.
The company has reduced to 20% the maximum holding for each shareholder, a change which has led to a decrease in the share of UBI Banca and Gruppo Banco Popolare, and to the increase in the holding share of Gruppo Veneto Banca, Banca Popolare di Sondrio and Gruppo Banca Popolare di Vicenza.
Meanwhile, Banca di Piacenza has entered Arca’s capital.
“The reorganisation of the governance confirms our plan to relaunch Arca SGR as an aggregating platform in the asset management industry,” said chief executive Ugo Loser (pictured).
Loser joined Arca in May 2011 to lead the restructuring process and to turn Arca in one of the main players in the Italian asset management industry.
As part of this strategy, he implemented a number of structural changes as well as completed a number of acquisitions in the industry, among which the one of Optima Sgr and of f the mutual funds business of Vega Asset Management.