Intesa Sanpaolo and the shareholders of Intesa Sanpaolo Holding SA have reached an agreement for the acquisition of the Swiss group Morval Vonwiller, including Banque Morval SA. This agreement responds to Intesa Sanpaolo's strategic plan to strengthen its presence on international private banking markets. The presence of the Morval Vonwiller group on the Geneva market will thus allow the Private Banking Division of Intesa Sanpaolo, already operating in Lugano, London and Luxembourg, to further expand its range of action beyond national borders.
Upon completion of the transaction, the Morval Vonwiller group will be able to benefit from the solidity and financial capacity of Intesa Sanpaolo. This initiative will also bring important advantages to the employees and customers of the Swiss group, thanks to the combination of the role of boutique active in international private banking of Banque Morval with the status of primary European financial institution of Intesa Sanpaolo.
The Zanon di Valgiurata family (founders of Morval Vonwiller Holding SA) will remain minority shareholders through its members currently engaged in the operational management of the group, managers who will continue to occupy important managerial positions. The transaction is conditional on obtaining the required authorisations.
