A broader investor focus

Monte Paschi Asset Management built its synthetic CDO business from scratch, launching its first deal two years ago. Now, the firm is managing a deal aimed at Australia’s retail investors. Corso Pecori Giraldi, the firm’s head of institutional credit management, talks to Rachel Wolcott

Monte Paschi Asset Management (MPAM) is the only Italian asset manager active in the synthetic collateralised debt obligation (CDO) market. MPAM, the fund management arm of the world’s oldest bank, Banca Monte dei Paschi di Siena, has issued six deals since the launch of its first CDO in 2003, totalling in excess of €4 billion in notional assets under management.

Corso Pecori Giraldi, Milan-based head of institutional credit management, views the CDO business as a means to capitalise on his