London-based Marengo Financial Services has poached Luca Rescigno from its Italian arm Marzotto Sim to work as a portfolio manager.
Rescigno has moved to London from Milan, where he worked as an investment research analyst at the boutique Marzotto Sim Spa for almost two years.
Marengo Financial Services, which is part of the Italian investment house Marzotto Sim, is an FCA approved and regulated UK company that offers advisory and asset management services to professional clients.
Marzotto Sim, an investment house aimed at institutional and professional investors and with specific expertise on following regulated entities, started its business activity in the financial advisory area, which later expanded its activities adding asset management.
The Italian firm, whose assets under advisory and under management amounted to €4.5bn in March 2018, is headquartered in Milan but has also offices in Rome and London.
The research and capital market departments are based in Milan, the financial advisory activity is carried out in Rome, and in London is based the company's asset management division.
Although both the advisory and asset management's activities are institutional oriented, Marzotto aims at increasing its activity towards IFAs and retail networks on a B2B2C basis, in order to increase its visibility and placing power.
The majority of the company is owned by Marzotto Filati SpA shareholders, from which the financial company took its name, and which is a longstanding textile manufacturer dating back to 1836 - whose heritage and support ensures the company long-term sustainability.