This new initiative aims at providing an enhanced range of services to investment fund managers and financial institutions while complementing the offering of the group in the Italian market, both in the UCITS and Alternative spaces.

The establishment of the branch follows the recent approval of the Luxembourg regulator, the Commission de Surveillance du Secteur Financier, and the pertinent notification to Banca d'Italia. The branch will be headed up by Alessandro D'Ercole, a senior executive in the group ADEPA, to be permanently based in Milano.

Carlos Alberto Morales, CEO of the Adepa Group, comments "Our group has already developed a strong presence in Italy thanks to our subsidiary Adepa Italia Srl, where we provide financial firms with B.P.O, I.T Outsourcing and other non-regulated services. The opening of such a regulated activity constitutes an important step in our strategy of development in a country that is key for our interests. To this end, I'm happy to have entrusted Alessandro with this important responsibility and I am convinced that, on the grounds of his experience and leadership, this new business will be a great success."

"After spending 8 years working in Luxembourg within Adepa Asset Management, I am delighted to be opening our Italian branch. Italy represents an important jurisdiction for many of our clients and it was essential for us to have the possibility to enlarge our service offer in this market" explained Alessandro D'Ercole.