Poste Italiane and Allianz Asset Management buy EUR40 million stake in Moneyfarm

Poste Italiane and Allianz Asset Management buy EUR40 million stake in Moneyfarm

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.

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