Intesa Sanpaolo Private Banking and REYL & Cie receive regulatory approval to enter into a strategic partnership
The partnership enables Fideuram – ISPB to significantly strengthen its international wealth management activities and continue to play a leading role in the ongoing consolidation of the Swiss financial sector. He confirms his choice of Switzerland as the main hub of its international private banking activities.
Following the closing of the transaction, REYL & Cie will keep its Geneva head office and become a major international banking group with nearly 400 employees, AUM is approaching CHF 25 billion (€ 23bn) and regulatory capital of around 210 million francs (190 M €).
With its entrepreneurial DNA and its innovative business model, REYL & Cie will continue to pursue its successful 360 ° organic growth strategy., focused on providing innovative solutions to customers across five business lines: Wealth management, Entrepreneur and Family Office services, Business advice and structuring, Asset services and Asset Management. Recent initiatives such as Asteria Investment Managers and Obviam (Swiss regulated asset managers dedicated to impact investing) or Alpian (a budding digital bank recently incubated for wealthy mass clients) will greatly benefit from this strategic partnership. .
Fideuram – ISPB will control 69% of the capital of REYL & Cie, while partners François Reyl, Pasha Bakhtiar, Nicolas Duchêne, Thomas Fontaine, Christian Fringhian and Lorenzo Rocco di Torrepadula will collectively retain a 31% stake. The partners remain committed over the long term and will be responsible for the day-to-day management and implementation of the strategy.
“The agreement with REYL – comments Tommaso Corcos, CEO of Fideuram – Intesa Sanpaolo Private Banking – reaffirms our international growth strategy by consolidating one of the best private banks in the euro zone and by having Switzerland as the basis of our network abroad. The combination of skills, experience, capacity for innovation and a common culture of customer service are the cornerstones on which to build a new leading international bank, serving our most demanding customers. To accelerate commercial synergies between companies, Nicolas Duchêne, Deputy Managing Director and Partner of REYL, will also assume the role of Managing Director of Intesa Sanpaolo Private Bank Suisse Morval, on an interim basis, until the legal merger of the companies. ”
“The closing of the transaction – said François Reyl, CEO of REYL & Cie – marks a new chapter in the history of the REYL company which will open up a realm of new development possibilities for both parties. We are convinced that the quality and financial strength of Fideuram – Intesa Sanpaolo Private Banking combined with the entrepreneurial spirit and capacity for innovation of REYL will create the ideal conditions for success in the current environment. We look forward to forming lasting relationships with our new colleagues and working as a team, building together a leading international private banking group and strengthening our value proposition for the benefit of our clients.. “
About Fideuram – ISPB and ISPBM
Based at Milan, Fideuram – Intesa Sanpaolo Private Banking is the leading Italian private banking player in Italy and a key subsidiary of the Intesa Sanpaolo group, consolidating all of the group’s private banking activities. Like a March 31, 2021, Fideuram – ISPB had 3,107 employees, 5,743 private bankers, AUM of CHF 292.4 billion (€ 264.1 billion) and net inflows greater than CHF 1.9 billion (€ 1.7 billion) entrusted by more than 800,000 customers.
The ISPBM dates back to 1974, by the Zanon Valgiurata family, headquartered in Geneva with offices in Lugano, London, Monaco, Bahrain, the Cayman Islands, Buenos Aires and Montevideo; ISPBM was integrated into Fideuram in 2018. As of March 31, 2021, ISPBM has managed assets of approximately CHF 5.7 billion (5.1 billion euros) and employed 172 professionals.
Founded in 1973 by Dominique Reyl, the REYL Group is a diversified and entrepreneurial banking group with offices in Switzerland (Geneva, Zurich, Lugano), Europe (London, Luxembourg, Malta) and the rest of the world (Singapore, Dubai). Like a December 31, 2020, REYL manages assets exceeding 15.5 billion francs (€ 14 billion) and employs more than 245 professionals. Developing an innovative approach to banking, REYL serves a clientele of international entrepreneurs, family offices and institutional investors through its Wealth management, Entrepreneur and Family Office services, Business advice and structuring, Asset services and Asset Management guidelines.
Fideuram – Intesa Sanpaolo Private Banking
Head of Media Relations Wealth Management
Phone: (+39) 02 87963119
Responsible for the communication
Phone: (+41) 22 816-8177
SOURCE REYL Group