SWIP and COFIRI Sim Announce Italian Partnership
SWIP and COFIRI Sim announce Italian partnership Scottish Widows Investment Partnership (SWIP), the research driven asset management house and Cofiri Sim today announce that they are to enter into a co-operation agreement to jointly pursue opportunities in the Italian market for institutional asset management. With COFIRI Sim's strong investment banking credentials and SWIP's global asset management capabilites, it is anticipated that this new partnership will soon be a major force in Italian fund management. Cofiri Sim is 100% owned by Cofiri S.p.A. and is one of Italy's leading independent financial companies with some 250 employees. The new venture will operate from offices in Milan and Rome, offering both specialist and multi-asset capabilities. SWIP's robust, research driven process and expertise in fund management offers Global and Pan- European oppportunities for potential clients in the Italian market. Chris Walker, Head of SWIP's Institutional Business said: "At SWIP, we believe Italy will soon be our major European market. We intend to replicate the success we have enjoyed in Japan and Scandinavia as we continue to grow and strengthen our global asset management business". Gilberto Gabrielli Chairman of Cofiri SpA and Cofiri Sim said: "We have selected SWIP as the ideal partner to work with us in the fast growing Italian market. Cofiri's operational capabilities and in depth knowledge of the domestic market together with SWIP's global research-driven process is ideal for what we intend doing". About SWIP · SWIP will continue to work with Institutional Advisers in Milan on the wholesale institutional market. The new arrangement with Cofiri will develop and concentrate on the segregated market. · SWIP is one of the UK and Europe's largest fund mangers with around Euro 127bn of funds under management (*as at Dec 30 2001), making it one of Europe's largest fund managers. · SWIP has a geographically diverse client base with alliances, joint ventures and clients in the UK, Europe, USA, Hong Kong, Japan, South East Asia and the Middle East · SWIP has a broad client base, managing assets for Pension Funds, Charities, Local Authorities, Unit Linked Life Funds, Unit Trusts, Oeics, Off-Shore Funds and Specialist Funds across all asset classes. · SWIP is the asset management arm of Lloyds TSB, one of the most powerful financial services groups in Europe. · Past Performance is not a guide to the future. The value of an investment and the income from it can fall as well as rise and is not guaranteed. About Cofiri SPA · Cofiri SPA is a merchant bank active in investment banking,corporate finance, capital markets, private equity and banking. It is oneof Italy's leading project finance houses. · Cofiri SPA was originally part of the IRI group but is now privately owned by Loto SpA. It's shareholders comprise some of the Italy's leading entrepeneurs such as Vittorio Merloni and Gilberto Gabrielli, and the prominent Angelucci family. · Cofiri has an impeccable, blue chip, list of corporate clients. For further information please contact: Caroline Partridge Head of Corporate 0131 655 6527 Communications Scottish Widows caroline.partridge@swipartnership.co.uk Investment Partnership Beth Kerr Media Relations Manager 0131 655 8461 Scottish Widows beth.kerr@swipartnership.co.uk Investment Partnership Louise Bullock/Billie Clarricoats Account Director 0207 490 8828 Lansons Communications louiseb@lansons.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/09/20020509BIT00110/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/09/20020509BIT00110/wkr0002.pdf