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Generali acquires Merrill Lynch Ucits provider

Picture of the Generali Insurance sign on their headquarters for Szeged in Hungary. Generali Group, or Assicurazioni Generali is an Italian insurance company, the largest in Italy and third in the world

International insurance and asset management giant Generali Group has acquired CM Investment Solutions Limited (CMISL), which is a provider of alternative Ucits strategies, from Bank of America Merrill Lynch.

CMISL will help expand Generali’s “product offering and distribution capabilities” for its clients and distribution partners.

Carlo Trabattoni, chief executive of Generali Investments Partners, stated: “The acquisition of CM Investment Solutions Limited is an important step ahead in shaping our multi-boutique strategy, as their undisputed expertise in the delivery of liquid Ucits funds and other bespoke strategies gives us the opportunity to offer a selection of top quality alternative products to our clients.”

Asset management plans

CMISL, which was established in 2007 will be 100% owned by Generali Investment, and will continue to be headquartered in London.

The financial terms of the deal were not disclosed.

This acquisition is part of Generali’s asset management strategy, which targets an expansion into alternative strategies and growth outside of Europe.

CMISL has more than €9.7bn in assets under management, as at 30 September 2018.

Wealth acquisition

Also, Generali Group subsidiary, Banca Generali, has agreed to acquire 90.1% of Valuer Fiduciaria, a wealth management boutique based in Lugano, Switzerland.

The deal is part of its three-year growth plan to grow its private wealth advisory segments, including in Switzerland.

The acquisition will be subject to regulatory approval. The financial terms of the deal were not disclosed.

Valeur Fiduciaria was formed in 2009 and manages CHF1.326m (€1.17m).

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Robbie Lawther

Robbie is a reporter for International Adviser, covering global news stories about the financial services industry. He joined Last Word Media in October 2018 after nearly two years working at...

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