Banor SIM: Quality is the keyword for 2016

By Alessandro Chiatto

Quality is the keyword for 2016 for Banor SIM. Both from the growth perspective and in terms of recruitment, the company is aiming high. ADVISOR spoke about the coming year with Massimiliano Cagliero, Banor SIM’s chief executive officer.

How would you characterise Banor SIM’s growth strategy?
Ours is a three-dimensional strategy. The first two dimensions depend essentially on the company itself, while the third is linked to the situation of the markets. Our first “leg” is undoubtedly the world of private banking. Thanks also to the favourable market situation, we’ve seen a historic growth in our private clients. The second, which we launched a couple of years ago, is our work for our institutional clients, both through dedicated management mandates and through investment by clients in our SICAV.

And then there is the third, “opportunistic” growth strategy, for external lines. We normally look to firms like our own, but we also take private bankers with significant portfolios into consideration. Our office in London is finalising the acquisition of a minority stake in a management firm in Singapore to give us a base and an observation point for the Asian markets, while maintaining our value approach based on profound analysis, study and research.

How was 2015 for you at Banor SIM?
It was a good year, which enabled us to achieve and build on significant results. We grew in terms of assets and offered our clients substantial returns. Over the last 10 years our assets under management have grown more than threefold, by 340%. From the market situation perspective, it was certainly not an easy year, with periods of great volatility that gave us the opportunity to increase our investments in companies in which we believe very strongly.

What are your expectations for 2016?
It will be a highly volatile year with a very significant presence of the central banks, which will confirm their role as key players on the macroeconomic stage. The new development will a period of rate rises introduced by the Fed. The markets will continue to be influenced to a large degree by macroeconomic and political factors that reinforce our conviction that we should to stick to our bottom-up philosophy.

Closer to home, we don’t have set targets. We expect to experience significant growth, because in our opinion the competition scenario is becoming simpler: many players have left the market, including through divestments.

What will you be doing on the recruitment front?
At the moment our team consists of about 20 private bankers. We select our people very carefully, taking three key factors into consideration. In addition to their expertise, we look for ethics and transparency, and above all a desire to grow, while portfolio value is a relative factor. In a word, we look for quality.

Original article in Italian language, available here: Advisor, December 3, 2015.


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