Christian Brothers Investment Services, Inc. (CBIS), a leading investment management firm and Registered Investment Advisor to Catholic investors around the world, today announced that Andrea Favaloro has agreed to serve as President of CBIS Global.
Mr. Favaloro, who most recently served as Chief Business Officer for Tokyo-based Asset Management One International, is assuming his new role following Alessandro Lombardi’s planned departure.
A long-time veteran of the financial industry, Mr. Favaloro has served in executive roles with Generali Group, Paris, BNP Paribas Asset Management, Paris, and Fortis Investments, Milan.
He will report to Jeffrey McCroy, President and CEO of CBIS, from CBIS Global’s office in the Generalate of the Brothers of the Christian Schools in Rome. The firm also maintains a regional office in Spain.
“Gradual and thoughtful transition of executive leadership is always a challenge,” says Mr. McCroy, “which is why we spent so much time searching for someone with the right combination of skills and excitement for Catholic investing to lead CBIS Global. We’re convinced we’ve found that leader in Mr. Favaloro.”
CBIS Global offers a series of sub-advised investment funds – the CBIS Global Funds – that rely on the principles of the CBIS Catholic Responsible Investments℠ approach. From its inception, the firm has worked exclusively with Catholic investors.
According to Brother Martin Rocha Pedrajo, FSC, CBIS Board member and General Bursar of the Institute for the Brothers of the Christian Schools, Mr. Favaloro is well-equipped to further CBIS’ mission to serve the greatest number of Catholic investors looking to transform the world.
“Given our rich history of attracting people of strong character and keen ability, I’m not surprised to see Andrea accept this challenge,” says Brother Martin. “Beyond his obvious skill, I have to think his excitement for Catholic investing will help CBIS Global to reach a larger audience.”
At year end, CBIS represented $9.2 billion in assets under management. The firm has indicated it seeks to build out its CBIS Global product offering, including the development of solutions-based products similar to its CRI Magnus Funds but targeted to non-U.S. investors.
“As CBIS strives to serve the greatest number of Catholic investors looking to transform the world, the whole of the company must be greater than the sum of its parts,” says Mr. Favaloro. “We have great opportunity at CBIS Global to build on all the work that has gone before, and I look forward to the day when CBIS’ combined businesses are serving a much larger universe of the Catholic faithful.”
Christian Brothers Investment Services, Inc. is a Catholic, socially responsible investment management firm and Registered Investment Advisor. A trusted partner to Catholic investors around the world, the firm relies on its unique Catholic Responsible Investments to provide Catholic investors sound financial returns while remaining faithful to the moral and social teachings of the Church. Founded in 1981 by the De La Salle Christian Brothers, CBIS engages third-party institutional investment firms to actively sub-advise its portfolios. As of 12/31/2022, the firm was responsible for the management of $9.2 billion in assets. Headquartered in Chicago, CBIS has offices in Rome and Madrid.
Source: PR Newswire
