Italian funds drop custodian after acquisition led to conflicts of interest

Global Pensions | 05 Oct 2009 | 15:17

Giovanni Legorano

ITALY – At least two Italian pension funds have dropped Monte dei Paschi di Siena (MPS) as custodian after Intesa San Paolo’s (ISP) acquisition of the firm’s custodian business led to conflicts of interests in their manager line-ups.