Spafid Connect and CAD IT execute strategic agreement
Milan, 9 February 2016
Spafid Connect, the technology arm of Spafid in its provision of services to issuers, has stepped up its growth process by entering into a ten-year strategic agreement with CAD IT, a company at the cutting edge in the financial software market and listed on the STAR segment of the stock market operated by Borsa Italiana.
Integration of the Spafid Connect platform, a company recently set up to manage AGM and market abuse-related services, with the finance area of CAD IT, will enable banks and insurances to have access to a full range of IT solutions integrated with a professional hub specializing in meeting requirements relating to companies’ status as issuers.
Spafid, the Mediobanca Group’s fiduciary company, has long-standing experience in managing the estates of private individuals and important entrepreneurial families, with a mission also to provide services to issuers (managing shareholders’ registers and AGMs in particular).
Through Spafid, the Mediobanca Group has recently developed an extensive range of corporate and operations services to support issuers (large corporate, mid corporate, banks and insurances) which are synergistic with its core investment banking activities (advisory, lending and capital markets). The rapidly changing markets and increasing complexity of the obligations facing listed companies, in many cases family-owned firms approaching the stock market to manage generational issues, have led the Mediobanca Group to enhance the scope of the assistance it provides to companies with are either listed or in the process of listing.
For Spafid it is strategic to have a technology platform able to develop and make available to its clients IT solutions for issuers to complement the professional services it provides. For this reason in June 2015 it set up Spafid Connect, a joint venture with Feedback Italia, a European leader in electronic voting at AGMs and interactive communications.
Stefano Pellegrino, Chief Executive Officer of Spafid and Spafid Connect, said: “I am very pleased with this partnership with CAD IT, which comes just a few months after the incorporation of Spafid Connect, the technology arm of Spafid in its provision of services to issuers. It is another important step in the process of growing our company. This agreement will allow us to overcome the problem of fragmentation in the IT solutions offered to banks and insurances, complementing them with assistance to companies which are either listed already or soon to be so.”