Banca Fideuram has confirmed the launch of Fideuram Intesa Sanpaolo Private Banking, the newly created private bank resulting from the merger of Intesa Sanpaolo PB; Sanpaolo INvest; Fideuram INvestimenti SGR; Fideuram AM (Irleand); Intesa Sanpaolo PB (Suisse), Fideuram Spa (Luxembourg); SIREFID, Fideuram Fiduciaria, Financiere Fideuram, Euro Tresorerie e Fideuram Vita SPA.
Fideuram Intesa Sanpaolo Private Banking also announced that Matteo Colafrancesco will be its president and Paolo Molesini its CEO to lead the new unit which will focus on advisory services and asset management.
Franca Cirri Fignagnani has been named as vice president. During the same board meeting, members approved a share capital increase of 110 resources.
The new private banking kicks off with €187bn AUM and above €135bn in private clients, which makes Fideuram Intesa Sanpaolo Private Banking the first Italian private bank and the fourth European one per AUM.