Poste Italiane and Allianz Asset Management have each acquired a minority stake in digital wealth management company Moneyfarm.
As part of the agreement, Poste Italiane will offer Moneyfarm’s digital investment product through its asset management platform, offering users a discretionary mandate of seven ETF managed portfolios.
Matteo Del Fante, Poste Italiane chief executive officer and general manager comments: “Our Deliver 2022 strategy for financial services is focused on the expansion of our product offer to become the ‘financial one-stop shop’ for our 35 million customers. Thanks to Poste’s modular and flexible open architecture IT system, we are able to integrate innovative players like Moneyfarm in order to develop a multichannel wealth management platform that is tailored to different customer needs."
Founded in 2011, MoneyFarm has operations in the UK, Italy and now Germany, via a recent joint venture with Allianz.