Buying boom in Piazza Affari on Azimut stock, which jumps by more than 5% after the announcement of the partnership on managed savings with UniCredit.
The stock of Piazza Gae Aulenti, on the other hand, reported a slight decline, in a session that saw the Ftse Mib travel in the red, in the aftermath of the announcement on rates and the launch of QT-Quantitative Tightening by Christine Lagarde’s ECB.
“If we are saying that we want to rebuild an asset management factory with an Italian head and that is worldwide, the dimensions are certainly significant”. Thus the president of Azimut, Pietro Giuliani, presenting the agreement with UniCredit, according to what is reported by the Radiocor Il Sole 24 Ore news agency.
After UniCredit’s exercise of the call, Giuliani added, Azimut will remain a “partner with a minority stake”.
“Azimut, which has a customer base of around 50% outside Italy, is willing to increase the weight of Italy and Europe as long as a national champion in asset management comes to light. For a few years we will rebalance ourselves towards Italian customers to build an asset manager in Italy which, with their size and our capabilities, allows us to have important asset management in house. It’s a price you can pay.”
Regarding the name of the newco, Giuliani said he had ‘absolutely no idea’ and that in each case “it will be UniCredit’s responsibility to choose”.