Reuters reveals UniCredit signs asset management accord with Azimut

Reuters shed light on how UniCredit has struck a deal with asset manager Azimut Holdings in a move that paves the way for the Italian bank to return to fund management a decade after it pulled away from the business. Under the accord, Azimut will set up a company in Ireland. UniCredit can acquire control of the company in five years at the latest. Azimut is expected to keep a minority stake.