Italian property services arm Prelios is giving a boost to its fund management arm with the nomination of Dario Frigerio as CEO and the appointment of a new board.

The listed Milan-based company has hired a Citigroup senior advisor for the top position at its Prelios Sgr subsidiary. Frigerio, who will take the helm on November 1, will be the first CEO of Prelios Sgr, which was formerly led by director general Rodolfo Misitano.

Frigerio was previously Vice General Manager of the Unicredit Group as well as co-founder and CEO of Unicredit's investment management arm, Pioneer Global Asset Management.

Prelios has also appointed a new board and increased the number of independent directors from four to five, in a bid to strengthen the corporate governance.

Paolo Ferro-Luzzi was retained as Chairman.