Intesa Sanpaolo acquires Morval Vonwiller

Italian bank Intesa Sanpaolo has completed the acquisition of Swiss group Morval Vonwiller, which also implies the acquisition of its private bank Banque Morval.

Intesa, already operating in Lugano, London and Luxembourg, will have presence in Geneva through the agreement benefitting from the expertise of the Morval Vonwiller Group.

Four members of the Zanon di Valgiurata family (Morval Vonwiller founder family) remain as minority shareholders, maintaining their involvement in the group’s management decisions.

The transaction is a first step for Intensa Sanpaolo’s 2018-2021 Business Plan, which expects to become one of the top five private banks in Europe seeking to achieve €55bn in assets under management by 2021.

The acquisition of the Swiss group, to be included in the private banking division of Intesa Sanpaolo, had been announced in August 2017.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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