Agnelli investment firm hires former UK minister Osborne

Lingotto Investment Management, backed by Italy's Agnelli family, has hired former British finance minister George Osborne and veteran fund manager James Anderson, it said on Monday. Owned by Exor NV, the Agnelli family holding company, Lingotto had around $3 billion in assets under management at the end of March provided by Exor and French insurance group Covea.

Lingotto Investment Management, backed by Italy's Agnelli family, has hired former British finance minister George Osborne and veteran fund manager James Anderson, it said on Monday.

Owned by Exor NV, the Agnelli family holding company, Lingotto had around $3 billion in assets under management at the end of March provided by Exor and French insurance group Covea. Osborne will be non-executive chairman of Lingotto. He served as British finance minister from 2010-2016 and has since held a variety of roles and is currently a partner at investment bank Robey Warshaw.

Anderson's role will be to invest in innovation. He previously worked for Edinburgh-based Baillie Gifford where he was an early investor in companies such as Amazon and Tesla. Anderson, a Briton, is also chairman of Swedish investment firm Kinnevik.

Lingotto, based in London, was previously known as Exor Capital. The name Lingotto can be translated as "ingot" and is also the name of a big Fiat factory built in Turin a century ago by the Agnellis.