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    BANOR ESG

DATA ANALYSIS IN THE ESG RATING

PARTNERSHIP WITH POLITECNICO DI MILANO

Since 2018, the School of Management of the Politecnico di Milano has been collaborating with Banor SIM in conducting in-depth studies and research in the field of sustainable finance: the studies carried out together over the years aim to analyse and explore the most topical ESG topics on the market, trying to answer the questions of operators and policy makers.

“La relazione fra rating ESG e performance di mercato dei titoli azionari e obbligazionari europei: cosa è cambiato negli ultimi anni?”, 2025 (Italian)

“L’esposizione settoriale dei fondi “sostenibili”: un confronto fra i prodotti d’investimento articolo 6, articolo 8 e articolo 9”, 2024 (Italian)

“The divergence of ESG ratings for Italian listed companies: what are the differences between the various agencies?”, 2022

“The dynamics of ESG ratings and the return on bonds listed in Europe”, 2020

“The relationship between ESG ratings and the yield spread of bonds on the European markets”, 2019

“ESG ratings and market performance: a study of Stoxx Europe 600 index stocks”, 2018

Banor SIM

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Tel. +39 02 896 289 1

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REQUEST A CALL BACK

Chief Investment Officer

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).

Portfolio Manager

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.

Senior Financial Analyst

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.

Analyst

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.

Head of Portfolio Management – Value

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).

Head of Fixed Income & Fund Manager

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.