Italy’s Banca Patrimoni Sella & C and Schroders Italy SIM have completed today the agreement announced on September 2017 bringing as a result the newly-created division Sella Patrimoni Schroders.
The agreement – which has already received regulatory approval from the supervisory body – implies the transfer of the Italian wealth management arm of Schroders to Sella Group while enables Schroders to become a shareholder of the Italian lender.
Milan-based Sella Patrimoni Schroders will provide its clients wealth management services, which will be also available for Italian high-net-worth investors in London, Switzerland and Asia.
Giuseppe Marsi, who has worked as country head of Schroders WM in Italy until now, will join Banca Sella Group as a member of its management board, while Andrew Ross – currently global head of Schroders WM – will join the new team as an adviser.
Federico Sella, managing director of Banca Patrimoni Sella said: “Today an agreement becomes effective that drives us towards a new phase of Banca Patrimoni Sella’s development. This partnership with Schroders will provide us access to new markets, while bolstering our offer in a context of innovation and consolidation based on common values.”