Reyl, the banking group based in Geneva, recently reduced its exposure to funds business. Now, it has decided to give the business a more prominent role again.
Reyl appointed Francesco Genovese as head of asset management, the company said in a statement on Tuesday.
Before the move, Genovese used to work for Pictet. He spent 15 years at Geneva’s largest private bank and made himself a name as expert in state funds and central banks in the Middle East. His last position was head of asset management in the Middle East, Africa and central Asia.
Strategic Development
Reyl is very interested in this clientele. It will develop specialist strategies for promoting and distributing innovative investment funds throughout Europe, Asia, the Middle East and the U.S., to a client base comprising sovereign funds, central banks and pension funds, the company said.
«Through a combination of strategic recruitment and formal alliances with talented managers, Genovese will focus initially on establishing a high-quality platform for alternative asset management,» Reyl added.
Last year, Reyl had sold two thirds of the asset management business to Mediobanca in Milan.
