Legal & General Investment Management (LGIM) has launched a new retail business in Italy. The Milan-based office will be led by new hire Giancarlo Sandrin, former head of asset manager clients at BlackRock in Italy.
The new hire is a part of LGIM's scheme to expand into continental Europe to push its ETF product offering. It was only last week the firm announced the hiring of Annacarle Delepiane who will be managing the trading of ETFs on behalf of clients in London.
Sandrin's new duties include establishing the Italian wholesale business as the company plans to roll out a range of ETFs and UCITS funds to Italian investors. As the company develops its European footprint, LGIM says there has been a growing demand in Italy for its products so the next logical step was to open its new offices in Milan.
Sandrin said in an announcement: "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."