Fideuram-Intesa Sanpaolo Private Banking and the shareholders of Morval Vonwiller Holding announce the closing of the acquisition of the Swiss group, also including Banque Morval SA.
With this agreement, the group's note reads, “Intesa Sanpaolo strengthens its presence on the international private banking markets, through its Division already operational in Lugano, London and Luxembourg, benefiting from the expertise of the Morval Vonwiller group. , thanks to Intesa Sanpaolo's solidity and financial capacity and its status as a leading European financial institution, it will be able to further develop its traditional role as a boutique, attentive to relations with an international clientele".
Four members of the Zanon di Valgiurata family (founder of Morval Vonwiller Holding SA) remain as minority shareholders, maintaining important managerial positions and active roles in the operational management of the group.
The operation is a first step in the realization of the strategic design outlined in the 2018-2021 Business Plan of the Intesa Sanpaolo group which plans to become one of the top five private banks in Europe and the second in the Eurozone in terms of assets under management, with the aim of a net inflow under management of 55 billion euro by 2021.
"With the acquisition of the Swiss group - explains the bank led by Carlo Messina - which will be included in the Private Banking division of Intesa Sanpaolo, the establishment of the European private banking HUB will begin, which will be based in Switzerland and in which the London branch will also refer to, in line with the international growth path already started by Fideuram-Intesa Sanpaolo Private Banking".
Intesa Sanpaolo and Fideuram-Intesa Sanpaolo Private Banking were assisted in the transaction by PwC and by the Linklaters studio. Morval Vonwiller Holding and its shareholders were advised by Deloitte and the Walder Wyss firm
