EUROPLUS, the asset management arm of Italian banking group Unicredito Italiano, plans to increase its Dublin workforce from 97 to 160 within 12 months.
The company, which moved into the International Financial Services Centre in July 1998, is responsible for all Unicredito Italiano's domestic and international fund management activities.
Now that its Dublin office is operating, it plans to market its funds throughout Europe next year. It already has authorisation to distribute its products in Germany and is close to acquiring similar authorisation in France, Spain and Britain, the markets which it will target. With some €70 billion (£55 billion) of funds under management, it is number seven among the mutual fund groups in Europe and aims for a 0.5 per cent share of the euro market, excluding Italy.
Europlus recently introduced five lifestyle funds, called Euromix, in Italy. It also confirmed it would be interested in managing the new fund being set up by the Government to meet the State's pension fund liability in the years ahead.
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