UBP adds PB to Italian business with new office in Milan

Swiss financial group Union Bancaire Privée (UBP) has opened a new office in Milan for private banking activities and has hired Alex Cecchini to head it.

Cecchini, who will hold the role of head of private banking at the new Milan office, will be responsible for leading the business expansion across the country with a special focus on HNWI.

UBP, one of the main private banks in Switzerland that focuses on wealth management for private and institutional clients, has been present in Italy since 2012 but, to the date, it has been dedicated exclusively to asset management for institutional investors.

UBP says that the extension to private banking activities is driven by the relevance that the Italian market has for the company which, they consider, one of their main areas for potential growth in Western Europe.

Swiss private bank Valeur Investments also landed in Italy earlier this year opening a Milan branch belonging to its subsidiary in Luxembourg.

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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