Pioneer Investments, the asset management subsidiary of UniCredit that the Italian bank tried unsuccessfully to sell off a year ago, is now bolstering its emerging markets team in a push to find new opportunities as Europe continues to grapple with its debt crisis.

The firm has hired two new emerging markets professionals, with plans to grow its team from 30 people to as many as 40. Pioneer's current head of investments in Europe and Asia, Mauro Ratto, will become head of emerging markets, working on debt and equity strategies.