Old Mutual Global Investors (OMGI), part of Old Mutual Wealth, has appointed Cristiano Busnardo (pictured) to the newly created position of country head, Italy.
He will report to Allan MacLeod, head of international distribution.
Based in OMGI’s new Milan branch, which is subject to regulatory approval, Busnardo will be responsible for driving OMGI’s growth within Italy.
Since its formation in 2012, OMGI has steadily developed a European presence and now manages GBP3.9 billion for clients across Europe (ex UK) with GBP106.8 million on behalf of Italian investors.
Busnardo is tasked with nurturing OMGI’s established Italian client base, as well as developing relationships with new investors. He will service clients across a spectrum of financial institutions, including wealth managers, private banks, family offices, pension funds, insurance and asset management companies.
Busnardo has over 20 years’ experience working in the financial services industry in sales and marketing roles. His previous position was deputy general manager, head of sales for Allfunds Bank, Italian branch, based in Milan, a role he held since September 2011. Prior to this he has worked in a number of senior sales and distribution positions in Italy, including two years at Prima SGR and nine years as country manager at Societe Generale Asset Management Italia SIM. He started his career in 1992 at ING group.
A key part of OMGI’s growth strategy is to significantly increase its international distribution capability, including developing its visibility throughout Europe. This appointment completes the European sales team and represents OMGI’s second on-the-ground presence in mainland Europe. In addition to Italy, the team oversees distribution within DACH, the Nordics, Benelux, France and Iberia.
Allan MacLeod, head of international distribution, says: “European distribution continues to be a core growth area for OMGI. Appointing dedicated specialists to each region reflects our ambitious growth plans for our international business and our desire to focus on the particular needs of clients in each region.
“We are known to a number of clients in Italy already, but are keen to broaden our presence in the region and I am confident that Cristiano joining us will enable OMGI to intensify its efforts. I look forward to working with him, and welcome him to the team.”
Busnardo adds: “I am excited at the opportunity to work for and represent an ambitious and dynamic company; one that I know reflects my professionalism and aspirations. Looking at the last quarter of 2016, and ahead into 2017, financial markets look set to be in for a bumpy ride, with Italian investors in particular facing an ambiguous macro-economic environment. However, these challenges present opportunities, which I look forward to tackling head on, armed with OMGI’s innovative and flexible investment solutions.”
