Pioneer Investments, the asset management arm of UniCredito Italiano, has picked up a €70m ($79.6m) US equities mandate from Banif, the largest Spanish private bank and a subsidiary of Banco Santander Central Hispano.

This is the latest in a string of mandate wins for Pioneer from European institutions. The Fiat pension fund has recently appointed the firm to manage a €17m European bond mandate and it also won a €23m European equities brief from Hansard International. Cariplo, the biggest Italian bank foundation, has awarded Pioneer with a mandate of €113.4m.