The European and Swiss financial regulatory bodies, ECB and FINMA, have approved the strategic partnership between Fideuram – Intesa Sanpaolo Private Banking (Fideuram – ISPB), the private banking division of the Intesa Sanpaolo Group, and REYL & Cie, a diversified and entrepreneurial banking group headquartered in Geneva. Fideuram – ISPB contributes to REYL & Cie its Swiss banking subsidiary Intesa Sanpaolo Private Bank (Suisse) Morval (ISPBM). The legal merger of REYL & Cie and ISPBM is expected to be finalized by year-end. The parties will release a new logo combining their respective brands.
The partnership enables Fideuram - ISPB to strengthen significantly its international wealth management activities and to continue playing a leading role in the ongoing consolidation of the Swiss financial sector. It confirms its choice of Switzerland as the main hub for its international private banking activities.