Eurizon to step up expansion plans with upcoming launch in Madrid

Intesa Sanpaolo Group’s asset manager Eurizon has announced its plans to launch an office in Madrid will be made effective soon.

The move, still pending of regulatory approval, is another step towards the firm’s global expansion and will follow Eurizon’s latest launch in Switzerland.

The firm announced in July that it had initiated the authorisation process for the opening of a commercial branch in Spain in a move to strengthen its international position.

The establishment of new offices in Europe and the strengthening of the existing ones are included in the objectives of the Intesa Sanpaolo Group’s 2018-21 Business Plan, said Eurizon.

“The Group aims to become a European leader in the wealth management & protection area. Indeed, this development strategy is indicative of the Group’s intention to further enhance its international activity in asset management, with a focus on selected European markets.”

Gabriele Miodini, head of Sales & Client Management at Eurizon Capital, said: “We have opted to grow our business in certain strategic European countries, through the establishment of local branches. We believe that our presence in the field represents the best approach for penetrating these markets, as it facilitates relations with domestic institutional customers.

“Germany, France and Switzerland are included as key countries in our plan to strengthen our presence in Continental Europe; these are flanked by Spain and Nordics, where we have been establishing fruitful collaborations with networks of local placement agents for some time now.”

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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