MILAN and GENEVA, Oct. 5, 2020 /PRNewswire/ — Fideuram – Intesa Sanpaolo Personal Banking (Fideuram – ISP PB), the non-public lender division of the Intesa Sanpaolo Team and REYL & Cie SA (REYL), an unbiased and diversified banking team headquartered in Geneva, announce they have agreed on the conditions of a strategic partnership by which Fideuram – ISP PB will receive a 69% curiosity in REYL and will contribute to REYL its wholly-owned Swiss bank subsidiary Intesa Sanpaolo Non-public Financial institution (Suisse) Morval (ISPBM).
Following the closing of the transaction – which is subject to customary regulatory approvals and envisioned to be done inside of the initial 50 % of 2021 – ISPBM will be merged into REYL, building a sizeable global personal banking group headquartered in Geneva with shut to 400 employees, AUM of around CHF 18 Bln and regulatory shareholders’ fairness of about CHF 250 Mln. In addition to Switzerland, the lender will be current in the EU, Latin The united states, the Middle East and the Considerably East.
The partnership will enable Fideuram – ISP PB to reinforce its international personal banking things to do, primarily in promising progress locations and to continue on playing a leading job in the ongoing consolidation of the Swiss economical sector. It also confirms the selection of Switzerland as the headquarter of the global non-public banking pursuits of Fideuram – ISP PB and provides considerable scale to its existing existence in the state. With its unique keep track of record, foremost domestic personal banking footprint and general money power, Fideuram – ISP PB delivers REYL a sturdy cultural healthy and multiple development catalysts whilst safeguarding its entrepreneurial DNA and modern small business product.
REYL will proceed to generate its productive 360˚ organic and natural advancement method, centered on delivering revolutionary solutions to its clients transversally across its 5 business lines: Prosperity Administration, Entrepreneur & Relatives Office Solutions, Company Advisory & Structuring, Asset Expert services and Asset Management. Current initiatives such as Asteria Expense Professionals (Swiss regulated fund administration specialised in impact investing) and Alpian (new Swiss digital financial institution for mass affluent clientele), will be taken care of and benefit enormously from the strategic partnership.
Fideuram – ISP PB and REYL’s administration have jointly defined a very long-phrase, commonly-agreed strategic approach, that will give a strong foundation on which to establish a foremost small business in the coming several years. The transaction will deliver added benefits, like a strengthened institutional framework and balance sheet, cross-referrals throughout all business enterprise segments, seeding capital for new product initiatives, placement, syndication and co-advisory alternatives, as nicely a vastly expanded distribution community.
REYL’s partners François Reyl, Pasha Bakhtiar, Nicolas Duchêne, Thomas Fontaine, Christian Fringhian and Lorenzo Rocco di Torrepadula will keep considerable stakes in the Swiss-based mostly financial institution and will continue being dedicated to its development and approach for the extended time period as perfectly as its working day-to-day administration.
“The strategic partnership with REYL,” commented Tommaso Corcos, CEO of Fideuram – Intesa Sanpaolo Personal Banking, “confirms the Intesa Sanpaolo Group’s tactic, which has very long been targeted on developing a Prosperity Management & Defense Business. It also matches within just the broader method of strengthening and repositioning of our Personal Banking Division’s international activities, in particular in Switzerland, the main market place for international functions. Subsequent the acquisition of the Morval Team in 2018, this transaction will allow us to focus a lot more decisively on this growing sector, which is resilient to crises and subject to an ongoing consolidation course of action.”
“We are incredibly excited,” states François Reyl, CEO of REYL, “about this arrangement, which marks a new chapter in REYL’s company historical past. Fideuram ISP-PB is the ideal companion for REYL and we can’t be far more delighted to have the option to construct together a foremost new intercontinental non-public banking participant, operating from Switzerland but with international ambitions. We look ahead to developing lasting ties with our new colleagues and to tackling all potential difficulties and opportunities performing as a thoroughly integrated crew. We found in Fideuram – ISP PB not only a strong strategic fit, but also a spouse with an acute understanding of the entrepreneurial world and extremely compatible values that area human criteria at the coronary heart of all company initiatives. The combination of nimbleness and scale pushed by a shared entrepreneurial eyesight creates the perfect situations to accomplish results in the latest atmosphere.”
REYL ended up suggested on this transaction by Deloitte SA and Schellenberg Wittmer Ltd. Fideuram was encouraged by Studio Pedersoli, PwC Technique&, CFM.
About Fideuram – ISP PB and ISPBM
Headquartered in Milan, Fideuram – Intesa Sanpaolo Non-public Banking is the no.1 Italian domestic personal banking participant and a key affiliate of Intesa Sanpaolo Team, consolidating all of Group’s non-public banking things to do. As at 30 June 2020, Fideuram – ISP PB had 3,171 workforce, 5,801 private bankers, AUM of CHF 259 Bln and Net Inflows of extra than CHF 6. Bln entrusted by far more than 793,000 shoppers. Founded by the Zanon Valgiurata relatives, headquartered in Geneva with workplaces in Lugano, London, Monaco, Bahrain, the Cayman Islands, Buenos Aires and Montevideo, ISPBM traces its foundation back to 1974 and was included into Fideuram in 2018. As at 31 December 2019, ISPBM managed belongings of above CHF 5.1 Bln and used 176 specialists.
Established in 1973, the REYL is an unbiased diversified banking team with places of work in Switzerland (Geneva, Zurich, Lugano), Europe (London, Luxembourg, Malta) and the rest of the globe (Singapore, Dubai). As at 30 June 2020, REYL managed assets in extra of CHF 13 billion and utilized a lot more than 220 specialists. Establishing an revolutionary approach to banking, REYL serves a clientele of intercontinental business owners and institutional traders by means of its Prosperity Administration, Entrepreneur & Household Office Companies, Corporate Advisory & Structuring, Asset Services and Asset Management enterprise strains.
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