Mediolanum Banking Group has officially opened a new European Asset Management head office in Dublin, in the IFSC, running to 20,000 sq ft.

The bank has operated in Ireland since 1997 with two entities, Mediolanum International Funds Ltd and Mediolanum International Life DAC. MIFL is responsible for the design, development, investment management and distribution of investment funds distributed to about 1.5 million clients in Italy, Germany and Spain.

It also acts as the R&D centre for investment management within the group, with proprietary processes applied to designing tailored solutions to meet clients’ needs. Mediolanum International Life distributes “tailored unit-linked investment and protection life assurance products”, again supported by proprietary technology.

MIFL employs 120 staff directly, with about 100 more indirectly in outsourced services. It plans to increase the direct total to 140 by the end of next year.

Managing director Furio Pietribiasi said: “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. 

In Association with

“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.”

The company has around €42 billion in assets under management by the Irish unit, and 61 funds based here and in Luxembourg.

Photo: Furio Pietribiasi (left) and minister Michael D'Arcy.