BNY Mellon has signed a distribution agreement with Italian player Credem to distribute its funds to a wider investor base in the country.
The agreement follows up on the already existing partnership between Credem and Banca Euromobiliare, financial boutique of the Credem Group, specialised in investment and advisory services.
From now on, the distribution agreement is extended to the 500 financial advisers and 180 private bankers working for the Credem Group, which has some 560 local branches throughout the country.
According to the agreement, BNY Mellon will be able to distribute to Credem’s retail clients all the products within its Sicav BNY Mellon Global Funds.
This includes bond, equity, flexible and absolute return funds and other investment strategies aimed at retail investors.
Marco Palacino (pictured), managing director at BNY Mellon IM Italy, said: “The agreement with Credem follows a productive collaboration with the group’s asset management arm.
“The Italian retail segment offers interesting opportunities for the asset management industry and we are certain that Credem’s advisory and private banking network will be able to make the most of BNY Mellon’s funds in Italy.”