On the back of its recent launch of core ETFs, having purchased part of ETF Securities last year, Legal & General Investment Management (LGIM) is launching a retail offering in the Italian market, selling ETFs, SICAVS and ICAV UCITS schemes.
The new business will be headed up by new hire Giancarlo Sandrin, who has left his role as Head of Asset Manager clients for BlackRock’s Italian iShares business.
Sandrin will be LGIM’s Italy Country Head, Wholesale & Retail and will oversee the establishment of the wholesale business, supported by a dedicated sales function for LGIM’s Italian clients based in London. He will be based in a newly opened office in Milan, and will report to Simon Hynes, Head of Retail EMEA Distribution.
Hynes says: “We’ve seen increasing appetite from investors across Europe for our range of solutions and opening a local office in Italy was the natural next step in our expansion plans. Giancarlo will be an invaluable addition to the team, with his deep knowledge of the European retail investment market and extensive sales experience. Building out our ETF business in Italy is a key priority for us, and given his background, Giancarlo is perfectly equipped to drive this growth.”
Honor Solomon, Head of Retail, EMEA at LGIM says: “Giancarlo’s appointment in Italy is a pivotal step in our long-term plan to broaden our reach across Europe. Over the last three years we have been steadily increasing our product offering for European investors and we are thrilled to have Giancarlo lead our foray into the Italian wholesale market.”
Sandrin says: “LGIM’s strong reputation makes it well positioned to expand into the Italian wholesale market and its focus on long-term investing will resonate locally. I am excited to lead our retail efforts in this market and look forward to working closely with Simon and the team as the company embarks on this next stage of expansion.”
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