It’s been described elsewhere as a friendly bit of poaching, but officially it’s a strategic partnership between UniCredit and NewSmith Capital Partners. Once it’s all approved, UniCredit will acquire NewSmith Financial Products (NSFP) and become an investor in NewSmith funds, as well as taking a 5% stake in NewSmith Capital Partners. As part of the deal, T J Lim, NSFP’s chief executive officer, will join the executive committee of UniCredit Markets & Investment Banking and also act as co-head of markets with specific responsibility for fixed income and currency, global credit and sales.
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