Fortis Bank Information Banking is boosting the European rollout of its Prime Fund Solutions platform with the establishment of an Italian subsidiary.
With this initiative Fortis Bank Information Banking intends to offer its expertise in providing flexible financing solutions to Italian hedge funds and funds of hedge funds managers.
Massimo Talia has been appointed as Managing Director based in Milan. Talia's responsibility will be to develop innovative financing and banking services and products for domestic hedge funds and funds of hedge funds.
Talia, 38 years old, graduated in Economics at the University in Milan. In 1993 he joined JP Morgan (Milan) as account manager of institutional clients in the custody business. He comes from BNP Paribas Securities Services (Milan), where he contributed to the development of the equity finance business offering securities lending and cash financing products and services to domestic and international financial institutions.
Joost Löbler, Global Director of Sales for Prime Fund Solutions, said: "Through our experience with offshore activities, including fund administration, financing trade positions, clearing transactions, safekeeping of portfolios and covering of short sales, we offer a "one-stop-shop" for all of a fund's administrative and financing needs."
Information Banking is a business line of Fortis Bank, which brings together custody, securities lending, derivatives and cash clearing and prime fund solutions.