Intesa Sanpaolo announces acquisition of Morval Vonwiller

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

The transaction, for which financial terms were not yet disclosed, is in line with Intensa Sanpaolo’s strategy of expand its presence in the international private banking sector, the Italian bank said.

Intesa, already operating in Lugano, London and Luxembourg, will have presence in Geneva through the agreement.

Intesa Sanpaolo reported that members of the Zanon di Valgiurata family (which founded Morval Vonwiller) will remain as minority shareholders and those family members currently involved in the group’s management, will continue to do so.

The transaction is subject to regulatory approval.

 

 

 

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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