MILAN, Sept 9 (Reuters) - Italian AI startup Domyn has

appointed former BlackRock managing director Stefano

Pasquali to head its newly launched financial services division,

the company said on Tuesday.

Valued at more that $1 billion, Domyn, formerly known as

iGenius, is developing AI tools for the highly-regulated

financial sector and it is building what it calls Europe's

largest supercomputer.

Domyn offers banks, insurers and asset managers an AI

architecture with complete ownership of their data, models and

intellectual property.

At BlackRock, Pasquali founded and led the investment AI

team after leading research and data science teams at large

financial institutions, delivering AI solutions for asset

managers, bankers, insurers, and risk officers.