Lugano-headquartered independent asset manager Valeur Fiduciara has opened its first Italian branch for its asset management business.

The new Milan office is part of Valeur Asset Management – set up in 2014 in Luxembourg by the Swiss independent group.

Heading up the Milan office is Riccardo Bellini, who has been named country head for Italy at the asset management firm.

Bellini first joined the group in January 2017 from Azimut Holding, where he was development officer, responsible for wealth management products and services. He spent six years at the firm.

Valeur Fiduciara was first established in 2009 by Alida Carcano and Dario Micheli in Lugano.

The asset management unit launched its first fund, Multi Stars AL-FA Dynamic, in 2016.