Fondazione Monte dei Paschi di Siena (the MPS Foundation), the oldest bank in the world, has appointed Barclays Global Investors to run a €200m ($172m) mandate at its employee pension fund.

BGI will manage the active asset allocation mandate using its quantitative asset allocation process. This relies heavily on BGI's systems, which represent decades of intellectual capital. The systems determine BGI's positions after considering a large number of factors affecting stocks and markets around the globe. The firm continuously updates its models as its understanding of markets evolves.