Alliance in Italy

US manager Alliance Capital Management is spreading its European distribution network into Italy, the world’s third largest mutual funds marketplace. Its new Milan office is headed by Nicola Meotti, previously running Gartmore’s Italian sales activities. He has also handled Italian sales for ING.

One of Mr Meotti’s key targets will be selling Alliance funds to those distributors with a multi-manager product offering. The Italian office adds to ACM International’s distribution capacity in London, Luxembourg, Madrid, Munich, Stockholm and Zurich. Alliance manages $533bn (w407bn) globally.