We’re pleased to announce the successful completion of its acquisition of Zenith Global, a specialist provider of solutions for securitisation and structured finance transactions in Italy, following regulatory approvals.
This acquisition, now authorised by the Bank of Italy and the Italian Government’s foreign direct investment (FDI) review board, gives us our first presence in Italy while further bolstering our global capital markets and structured finance service proposition.
With 200+ employees across its offices in Milan and Rome, Zenith stands out as a leader in the Italian market for innovative, sophisticated structures catered to international investors. It delivers a comprehensive suite of securitisation services, including SPV and corporate servicing, portfolio servicing (master servicer, primary and special servicer, back-up servicer, calculation agent), regulatory services, and structuring. The team also holds specialist expertise in real estate securitisation and offers proprietary technology built specifically to support the securitisation and master servicing market.
From today, the team will go to market as “Zenith Global, part of IQ-EQ”, marking the first step in its brand transition to IQ-EQ. Work will also commence towards a full rebrand of Zenith to IQ-EQ before the end of 2026, at which point the legacy brand will be retired.
Zenith CEO Umberto Rasori will continue to lead the Italian business and joins our EMEA senior leadership team as Managing Director for Italy, ensuring continuity of day-to-day service delivery.
Following this acquisition, IQ-EQ has 6,500+ employees across 25 jurisdictions. Today’s announcement notably comes hot on the heels of our recent rebrand of our AMAL business to IQ-EQ in Australia and New Zealand – further cementing our position as a leading global service provider in the securitisation space.
John Legrand, IQ‑EQ’s Deputy Group CEO and Regional CEO for EMEA, commented:
“Completing our acquisition of Zenith Global is a major milestone for IQ‑EQ and for our EMEA business. It gives us a strong foothold in Italy – an increasingly important market that’s seeing a notable uplift in investment activity – and fills a strategic gap in our continental European footprint as more of our clients are asking for Italian capabilities.
“Just as importantly, Zenith expands our worldwide structured finance and securitisation offering, strengthening our ability to support issuers and managers operating across borders with consistent, high‑quality service. I’m delighted to welcome Umberto to my regional leadership team and look forward to working closely with him as we build on Zenith’s strong platform and accelerate our growth in Italy and beyond.”
Joanne McEnteggart, Global Head of Debt, Capital Markets and Corporate at IQ‑EQ, added:
“I’d like to thank the Italian regulators for their support and approval, which has enabled us to complete this strategically important acquisition. We’re excited to welcome Zenith into IQ‑EQ and to have this transaction successfully closed.
“Italian capital is increasingly significant in global private markets and our clients are looking for seamless support when investing into or raising capital from Italy. Zenith gives us an immediate and credible entry into this market through established operations in Milan and Rome and a strong reputation built over many years – solid foundations that we can build upon at pace. I’m also particularly excited about the opportunity to leverage Zenith’s GAIA technology platform to further bolster our structured finance offering.
“Above all, I’ve been hugely impressed by the calibre of Zenith’s senior team and their commitment to innovation and service excellence. I’m keen to see what we can achieve together in the years to come.”
Umberto Rasori, Zenith CEO and now IQ-EQ’s Managing Director for Italy, said:
“We’re delighted that the acquisition is now official and that Zenith is moving forward as part of IQ‑EQ – a fully independent group whose vision and values we strongly share. I’m confident this integration will enhance our range of products and create new opportunities for our clients, and I’m excited to work closely with Joanne, John and the wider team to expand our business as part of the group.
“Today, half of our clients are non‑Italian – up from 30% in 2017 – and we intend to continue that trajectory on a global scale with IQ‑EQ, more systematically pursuing investors and managers from markets such as the United States and Australia, who are interested in investing in Italian assets. Being part of the IQ-EQ regional leadership team is both a great recognition and an exciting challenge. My sincere thanks go to everyone at Zenith and IQ-EQ who’s played a part in the successful conclusion of this acquisition. Here’s to an exciting adventure ahead.”
