Eurizon Capital

Eurizon Capital SGR
Company typeSubsidiary
IndustryInvestment management
FoundedDecember 22, 1983; 41 years ago (1983-12-22)
Headquarters
Milan, Italy
Key people
Andrea Beltratti (Chairman)[1]
Saverio Perissinotto (CEO)
AUM€392 billion (Q2 2022)
ParentIntesa Sanpaolo
SubsidiariesPenghua Fund Management
Websitewww.eurizoncapital.com
Footnotes / references
[2]

Eurizon Capital (also known as Eurizon and Eurizon Asset Management) is an asset management firm headquartered in Milan. It is the asset management division of Intesa Sanpaolo, Italy's largest banking group. It is considered to be one of the largest asset management companies in Europe by assets under management.[3][4]

History

The roots of Eurizon Capital can be traced back to the asset management division of Sanpaolo that was established near the end of 1983.[2][5][6]

In 2005, Sanpaolo IMI established the subsidiary unit, Eurizon Financial Group which would encompass it's insurance and asset management business.[7]

In August 2006, Banca Intesa and Sanpaolo IMI agreed to merge to form Intesa Sanpaolo.[8] During this time, there were plans to hold an initial public offering of the Eurizon Financial Group unit but it was delayed.[9]

On 1 November 2006, Sanpaolo IMI Asset Management SGR changed its name to Eurizon Capital SGR after it was incorporated into the Eurizon Financial Group.[10]

In April 2007, Eurizon Financial Group acquired a 49% stake in Penghua Fund Management, a Chinese asset manager based in Shenzhen.[11][12] The other holder of the joint venture is Guosen Securities that holds 50%.[11][12]

In June 2007, the plans to list the Eurizon Financial Group were scrapped and Intesa Sanpaolo decided to break it up into three businesses.[13] Currently only Eurizon Capital retains the Eurizon brand name.

In 2015, Eurizon Capital opened an office in Paris and since then has continued to expand its presence in Europe afterwards by opening additional offices in Croatia, Frankfurt, Hungary, Luxembourg, Madrid, Slovakia and Zurich.[5][14]

On 4 July 2016, Eurizon Capital established Eurizon SLJ Capital Ltd. after acquiring SLJ Macro Partners LLP, a London based hedge fund that specializes in the foreign exchange market.[15]

In 2018, Eurizon Capital decided to expand its business into Asia-Pacific and started hiring more staff in Hong Kong and China to support its operations.[16][17]

In December 2019, the subsidiary Eurizon Capital Real Asset SGR was set up to invest in real assets.[18] In 2021, Poste Italiane through its subsidiaries, Poste Vita and BancoPosta Fondi SGR acquired a 40% stake in the subsidiary.[19]

Since 2012, Andrea Beltratti has been the chairman of Eurizon Capital.[1]

References

  1. ^ a b "Andrea Beltratti | SDA Bocconi School of Management - Top Business School in Europe". www.sdabocconi.it.
  2. ^ a b "Eurizon Capital SGR SpA/Italy - Company Profile and News". Bloomberg.com.
  3. ^ "European Fund Industry Review 2021 - Special Edition | Lipper Alpha Insight | Refintiv". Lipper Alpha Insight. Retrieved 3 December 2022.
  4. ^ "European fund managers' assets hit record high". The Actuary. 17 May 2022. Retrieved 3 December 2022.
  5. ^ a b "Eurizon gears up for Europe expansion". InternationalInvestment. 24 October 2016. Retrieved 3 December 2022.
  6. ^ "QDX: a new measure of diversification | International Forum of Sovereign Wealth Funds". www.ifswf.org. Retrieved 3 December 2022.
  7. ^ "Eurizon Financial Group 2005 Annual Report" (PDF). Intesa Sanpaolo.
  8. ^ "Italian bank buys smaller rival for €29.6 billion". The New York Times. 27 August 2006. ISSN 0362-4331. Retrieved 3 December 2022.
  9. ^ Cohen, Sabrina. "Eurizon IPO May Be Delayed". WSJ. Retrieved 3 December 2022.
  10. ^ "Eurizon Financial Group 2006 Annual Report" (PDF). Intesa Sanpaolo.
  11. ^ a b "Eurizon Financial buys in Penghua". www.chinadaily.com.cn. Retrieved 3 December 2022.
  12. ^ a b Ruffoni, Serena (1 September 2008). "Taking inspiration from Italian architecture". www.ft.com. Retrieved 3 December 2022.
  13. ^ "Intesa Sanpaolo pulls Eurizon IPO, plans break up". Reuters. 19 June 2007. Retrieved 3 December 2022.
  14. ^ "Italy's Eurizon expands to two more European countries". www.funds-europe.com. Retrieved 3 December 2022.
  15. ^ "Stephen Jen Sells Fund Stake to Intesa's Eurizon Capital". Bloomberg.com. 19 July 2016. Retrieved 3 December 2022.
  16. ^ "Eurizon Capital's Hong Kong business chooses first Asia distribution head". Pensions & Investments. 28 January 2021. Retrieved 3 December 2022.
  17. ^ Rial, Leticia (17 June 2020). "Eurizon grows its presence in Asia by expanding the organisation in Hong Kong". RankiaPro. Retrieved 3 December 2022.
  18. ^ PERRON, VICTOIRE BARBIN (12 February 2020). "Eurizon launches €3.4bn real assets business". citywire.com. Retrieved 3 December 2022.
  19. ^ "Poste Italiane and Intesa Sanpaolo sign a partnership on real economy investments". www.posteitaliane.it. Retrieved 3 December 2022.