Mediolanum Group opens new European Funds HQ
Mediolanum Banking Group has officially opened it new European Asset Management Headquarters in Dublin. The Irish operations of Banca Mediolanum comprise Mediolanum International Funds Limited (MIFL) and Mediolanum International Life Dac.
Mediolanum Banking Group has had a presence in Dublin since 1997. MIFL is responsible for the design, development, investment management and distribution of investment funds distributed to approximately 1.5 million clients in Italy, Germany and Spain whose needs are served by over 5,200 Family Bankersâ. A local 40-strong investment team manages cEUR42 billion of assets from the Dublin office.
MIFL is the R&D centre for investment management within the Mediolanum Group. Its proprietary product development process (MedInSync) and Investment Process (Med3â) are designed to develop and managed in-house tailored solutions to meet clients’ needs. The Company is also well known for its innovative technology agenda, its substantial investments and expertise in the area of AI (artificial intelligence/machine learning) and more recently robotics (RPAs).
Mediolanum has grown its employment base 22% annually (CAGR) since 1998 and currently has 120 staff directly employed in Ireland with an additional circa 100 dedicated resources indirectly employed for its be-spoke outsourced services. Over the last two years MIFL has made numerous senior Investment hires from both local and leading international asset managers. To accommodate future growth the Irish operations moved in May to new premises (circa 20,000sq.ft.) in the Exchange Building in Dublin’s International Financial Services Centre. The company also plans to increase its employment base to over 140 people by the end of 2020.
Furio Pietribiasi, Managing Director at MIFL, says: “Our decision to locate to Dublin back in 1997 has been thoroughly validated as we have seen Dublin providing the right ecosystem to develop into a world-class asset management centre. Our history here has been one of sustained and uninterrupted growth. We look forward to growing still further as we complement our substantial multi-manager and sub-advisory business with an increasing focus on expanding our team and competencies in direct securities selection.”