Intesa Sanpaolo PB opens London office

Italy’s Fideuram Intesa Sanpaolo Private Banking has opened its first private bank office in London.

The branch will be headed by Stefano Ferraiolo and project manager Giuseppe Bonini.

Paolo Molesini (pictured), CEO of Fideuram Intesa Sanpaolo Private Banking, said the new branch will target wealthy Italians in the UK, as well as those who already have significant portfolio investments with the Intesa Sanpaolo group elsewhere in the world.

The London branch kicks off with 10 private bankers and the group CEO Carlo Messina told the Financial Times he is prepared to be “very aggressive in hiring bankers from other banks.”

The group’s plans reportedly include the opening of further branches in New York and Asia after London.

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