Alliance Capital opens office in Milan

Alliance Capital Management is opening a representative office in Milan to distribute funds to retail and institutional clients. It will be headed by Nicola Meotti, who recently spent three years as head of Gartmore's sales activities in Italy. Prior to that, Meotti ran ING's Italy sales and marketing funds. He said the main focus of ACM's distribution will be via multi-managers. "Investors are becoming more and m ore demanding and distributors are enhancing their multi-manager product offering to increase their competitive advantage."