The ability to set oneself apart from the competition is crucial in the fast-changing financial Intermediaries business. As CEO Andrea Ciaccio explains, Azimut’s distinct qualities are a result of its unique journey as a company. “Azimut began as a fund manager before evolving into a wealth manager. This distinctive path has allowed us to tightly integrate relationship management and portfolio management, setting us apart from other asset managers.” He believes that the synergy between fund and portfolio management is key to delivering exceptional service to clients. “Our roots as fund managers instilled in us a structured approach to investments and operations, grounded in 30 years of track records,” he says. “This expertise forms the bedrock upon which we built our wealth management business.”
Azimut’s strategy centres on scaling its business model while maintaining rigorous compliance, managing risk, and ensuring top-tier client service. The company has sharpened its distinctive position by focusing on its core qualities, the seven “I”s of institutionalisation, integration, independence, internationality, investment, in-house and innovation. “The fusion of these qualities positions Azimut to establish itself as an acclaimed independent wealth manager,” says Ciaccio.
Solutions to match clients’ evolving needs
Julius Baer is dedicated to continually providing the right resources and solutions to empower financial intermediaries in delivering endless possibilities for their clients. The close partnership between Azimut and Julius Baer, in place for almost a decade, encapsulates this approach.
“Azimut has demonstrated the ability to scale and institutionalise the financial intermediaries business model by defying industry norms and achieving consistent growth in assets under management, clients, wealth managers and revenues,” says Noah Kan, Head Intermediaries South East Asia. “Their success shines in a landscape dominated by banks and insurance firms.”
A keen understanding of the evolving business needs of clients like Azimut is crucial in making technology investment decisions at Julius Baer. “In recent years, we’ve introduced various digital tools for financial intermediaries, such as tools that harness big data and advanced analytics,” explains Kan. “These provide investment ideas for our trusted partners like Azimut, enabling them to independently transact across multiple asset classes and structured products.”
Spotlight on Singapore
Kan and Ciaccio, both vastly experienced within the financial sector, have witnessed the expansion of the intermediaries landscape in Singapore over the years. “Azimut initially managed Asian assets for international clients, but we soon recognised the opportunity in managing Asian and international assets for Asian clients due to the exponential growth of Asian wealth,” says Ciaccio, reflecting on Azimut’s evolution. “Singapore, with its pivotal role in the global financial landscape, has been an ideal location for us.”
Addressing the challenges and opportunities of setting up shop in Singapore, Ciaccio mentions the multifaceted and fragmented nature of the Singapore financial intermediaries market. “Singapore’s efficient regulatory system, talent pool, and cutting-edge technologies continue to drive operational excellence for Azimut. Its robust regulatory framework ensures transparency and stability, providing a solid operational foundation.”
Kan is confident that Singapore will remain a stronghold by providing an international gateway to Asia. “Financial intermediaries operating out of Singapore are well-positioned to tap into the bustling Asian market. The country’s focus on technological advancement, together with political stability and business-friendly policies offer opportunities for financial intermediaries to access the market’s vast potential.”