Euronext Securities Inks a Strategic Partnership with Spafid

Euronext Securities Milan (Monte Titoli) and Spafid announced the agreement for a strategic partnership. Spafid is a leading player in the Italian wealth management space, offering fiduciary, trustee family offices services to a wide range of clients and will continue to focus and expand on its core advisory and consultancy business in the Corporate services space.

Specifically, Euronext Securities Milan will acquire the General Meetings, Designated Representative, and Shareholder's Registers activities of Spafid, solutions trusted by approximately 200 clients. In addition, Euronext Securities Milan and Spafid will establish a closer cooperation aimed at mutually support the development of their respective core businesses.

For Euronext Securities, the acquisition is an important step to further develop local added-value services to issuers, and to deliver on Euronext Securities' ambition to converge issuers services across all its locations – now spanning across Denmark, Norway, Portugal and Italy.

Spafid will focus on its core business of advisory and consultancy tailormade services built around human talent and superior client relationship, while benefitting from a closer cooperation with Euronext.

Mauro Dognini, CEO of Euronext Securities Milan, said: "The development of services related to the management of shareholders meetings and proxy voting, and the shareholders register is a perfect fit for Euronext Securities Milan's offering to Italian issuers, in particular for listed companies. Over the years Spafid has developed a solid business and an efficient service for its customers and we endeavour to improve the service level by dedicating the utmost attention to the needs of new customers".

Paolo Cappugi, CEO of Spafid, said: "As a result of this sale, Spafid will be able to further specialise in the pure, high value-added operational advisory and consultancy services already provided to listed companies and those at the listing phase. Euronext, with its cutting-edge technology platforms developed on a European scale, will be able to further enhance the quality of the service provided to companies by Spafid. Through this co-operation, Spafid and Euronext are well positioned to become leading market players, accompanying companies in the process of listing with best-in-class services consistent with their respective specializations and strategic missions".