Deutsche Bank invests in Italy’s financial adviser network Finanza & Futuro
Deutsche Bank will invest in its Italy’s network of financial advisers, Finanza & Futuro, to consolidate its position on the local market following the hire of about 500 advisers over the last two years.
Following the release of the bank’s third quarter profits, declined 3% to €755m in the third quarter, a spokeperson at the bank confirmed to Investment Europe that in Italy Deutsche will continue to invest in its retail presence.
Between 2010 and 2012, Deutsche opened about 40 branches, today about 200 across the country, and the Finanza & Futuro network reached 1500 advisers at the end of September.
Meanwhile, during the quarter the German bank kept its exposure to Italy’s governemnt bonds constant to €2.5bn, following a 29% increase during the second quarter.