Advisory and
other solutions
A range of services for private and institutional clients
The independent investment advisory service under the MiFID II directive allows the client to maintain their dealings with their own bank while making use of Banor’s expertise.
The client is supported in the process of building and monitoring an optimal and personalised portfolio based on their risk/return profile and needs.
The order execution service for institutional and private clients covers both the primary and secondary markets for equities, fixed income, foreign exchange and derivatives.
Thanks to its well-established network of relationships and access to the primary markets and multiple liquidity sources, Banor offers advantageous best-execution conditions (in terms of price and fees) both in Italy and abroad, as well as flexibility, fast execution and a customised service.
Custody-only services offer the client the opportunity to determine how to manage their own portfolio, while delegating the tasks of receiving and transmitting orders and executing them to Banor. Custody and administration of securities completes the range of services.
Banor offers its expertise in managing both “turnkey” and asset allocation investment solutions.
Banor boasts a well-established background in the European market (both bonds and equities), adopting an investment philosophy inspired by the principles of Quality Value and/or High Dividend Investing, based on rigorous fundamental analysis and a focus on financially sound issuers.
Banor manages institutional mandates for leading market players, making its know-how available to them.
Geopolitical Advisor at Banor since 2025, Keenan has spent the last two decades working in national security as a principal investigator at the RAND Corporation, as professor at the U.S. Naval Postgraduate School, as senior special advisor to the commander of U.S. Special Operations Command, and as a founder and member of the board of directors of the Global Special Operations Forces (SOF) Foundation. Keenan is a professor at the Roy E. Crummer Graduate School of Business at Rollins College and an adjunct faculty member at Politecnico di Milano.
Partner at Banor SIM since 2003 and member of the Board of Directors and Investment Advisor since 2009, Luca Riboldi has held the role of Chief Investment Officer (CIO) since 2011.
After leaving Citigroup, he founded Ribofin, which merged with Banor SIM in 2008.
He holds a degree in Business Administration from Bocconi University in Milan and an MBA from ISTUD (1989).
Partner at Banor SIM, Angelo Meda is Head of Equities and Portfolio Manager of the Banor SICAV Mistral fund and the High Focus managed portfolios.
He began his career in 2003 with the Ribofin team, where he worked as a financial analyst. In 2009, he joined Banor SIM following the merger between Ribofin and Banor SIM.
He holds a degree cum laude in Business Administration from Bocconi University. A member of the CFA Institute since 2005, he has been a CFA Charterholder since 2006 and a CIPM holder. Since 2010, he has participated in the CFA Grading Process.
Alberto joined Banor in 2019 after 15 years as an equity analyst at leading investment banks, focusing on the Branded Goods, Consumer Discretionary, and TMT sectors.
Before joining Banor, he worked at Bestinver Securities as Lead Analyst for Italian equities in the consumer discretionary sector and as Lead Analyst at Citigroup, where he was a key member of the No. 1 All-Europe Italian Equity team and the No. 2 All-Europe Pan-European Small & Mid-Cap team.
He also served as Lead Analyst for the Italian equity team at Crédit Agricole Cheuvreux.
Alberto holds a degree in Business Administration from Luigi Bocconi University in Milan.
Guglielmo Zaffaroni joined Banor in 2023. He holds a degree in Engineering Physics from the Politecnico di Milano, with a specialization in Engineering Mathematics. In addition, Guglielmo holds a master’s degree in Applied Mathematics and has obtained the IMC (Investment Management Certificate) qualification.
Tomaso Mariotti joined Banor in 2007 and has been a partner of Banor SIM since 2018. He currently serves as Head of the “Value” division, managing a portfolio of over €3 billion. He holds a degree in Financial Engineering from the Politecnico di Milano (2007) and completed the Executive Education for Leadership Development program at Harvard Business School (2016).
Francesco Castelli is Head of Fixed Income at Banor and Fund Manager of Banor SICAV Euro Bond, Aristea SICAV Short Term, and Aristea SICAV Financial Capital. With over 20 years of experience, he has previously worked with major financial institutions such as Zurich Investments, Sanpaolo IMI, and Kairos Partners SGR, specializing in financial bonds and capital securities. He currently manages funds totaling €370 million across various vehicles. He holds a degree in Economics from Bocconi University in Milan and obtained the Chartered Financial Analyst (CFA) designation in 2003.