Italy’s Banca Esperia completes the acquisition of Fiduciaria San Babila and Cidneo Fiduciaria

Italy’s Banca Esperia has completed the acquisition of fiduciary firms Fiduciaria San Babila Spa and Cidneo Fiduciaria Srl.

Both firms are mostly active in the Northern region of Lombardia.

The acquisition is part of the bank’s strategy to develop its wealth planning services, aimed at asset protection in the current economic scenario.

Banca Esperia, a private bank established in 2001 following a joint venture between Mediobanca and Mediolanum, had € 13.6bn assets under management at the end of September.

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