Eurizon, the asset management company of the Intesa Sanpaolo Group, grows its presence in Asia by expanding its subsidiary in Hong Kong by with the injection of a highly skilled team of professionals with extensive asset management experience in Asian markets. The assets managed by Eurizon totalled 312 billion euro and including the shareholding in the Chinese Penghua Fund Management the total assets are more than 400 billion euro at the end of March.
This initiative is strategic and consistent with Intesa Sanpaolo Group’s 2018-2021 business plan, which sees Eurizon’s growth in international markets as one of the key drivers of development in wealth management.
The strengthening of the Hong Kong-based company will enable Eurizon to accelerate its expansion in the Asian and Chinese markets where asset management is experiencing significant growth. It also aims to establish Eurizon in Hong Kong as a centre of excellence for emerging market investments in Asia and leverage existing expertise in Chinese equities.
Finally, the growth in the investment, commercial and management teams in Hong Kong will provide support – for Intesa Sanpaolo Group’s other Chinese companies: the local asset manager Penghua, in which Eurizon holds a 49% stake, and Yi Tsai, a wholly-owned wealth management company of the International Subsidiary Banks Division.
Eurizon Capital (HK) expansion will be led by the new CEO, Canadian Sean Debow, whose experience in Asian markets spans 25 years. Following prominent positions in leading international financial companies such as Merrill Lynch Asset Management (now Blackrock) in Hong Kong and UBS Asia Pacific, Sean Debow developed his own business project focused on the active management of portfolios invested in the Asian Pacific equity markets.
“I would like to welcome Sean Debow and the group of professionals to the Asset Management Division. The extensive experience and deep knowledge of the Asian market that this new team brings will be a major boost in accelerating Eurizon’s growth in Asia, seamlessly integrating with our managers who have been working in Hong Kong for years, and they will also allow us to diversify and expand our product range to the benefit of all our customers”.Saverio Perissinotto, CEO of Eurizon
“My colleagues and I are proud to be part of a prestigious international asset management company like Eurizon and a solid Group like Intesa Sanpaolo. Together with the entire Hong Kong team, we want to create value for investors, contribute to business development and enhance Eurizon’s brand in Asia”.Sean Debow, CEO of Eurizon Capital (HK)