Banca Finint signs an agreement for the acquisition of Banca Consulia. The bank active in the investment banking & asset management sectors presented a binding offer for the acquisition of the Milanese bank led by Antonio Marangi, specialized in financial consultancy and private banking and wealth management services. The goal is to achieve merger in early 2022.
The transaction will allow the bank to integrate le private banking and wealth management activities, significantly enriching the consultancy offer to its customers.
Currently, the offer has been approved by the Bank and the shareholders and remains subject to the positive outcome of the due diligence and the issuance of the necessary approvals. Furthermore, it also provides that Consulia shareholders are attributed both shares and a cash component.
Banca Consulia operates in the territories with a network of over 150 Advisors, located in about 40 territorial offices, with offices in Milan, Turin and Rome. It is characterized by its strong focus on advanced consultancy model, which plays a fundamental role in the development strategy and offers all those services typical of the private banking sector: asset management, Wealth Management, insurance products, UCITS in a guided platform logic, trading services, Lombard credits, as well as all banking, traditional, even online.
“The initiative is part of the strategic growth path undertaken by Banca Finint – he declared Enrico Marchi, Chairman of Banca Finint – and represents for our institute the possibility of accelerating the development path in sectors, such as Private Banking and Wealth Management, complementary to the current core business, as well as completing the range of services available to its customers. If the due diligence is successful, the goal is to achieve the merger between the two institutions in early 2022".
“The operation is functional to pursue an important development in a market segment with high added value – he stated Cesare Castelbarco Albani, Chairman of Banca Consulia -. Generating reciprocal synergies through the specializations of the individual companies allows us to be competitive on the market and to strengthen the professionalism of the commercial network, significantly enriching the consultancy offer to customers".
