Alvarez, 23, joined the Nerazzurri in a 12m deal over the summer after also being chased by the Premiership giants.
"Let's say that he was very close to Arsenal," the club captain told FC Inter News. "I rang him and said: 'Listen Ricky, I know that Inter are following you'.
"I then explained what Inter are all about, that we are a great family and that he would settle in well here. He listened to me "