AsiaNet 89835

MILAN and GENEVA, May 31, 2021 /PRNewswire=KYODO JBN/ --

- The European Central Bank (ECB) and FINMA approve the strategic partnership

between Fideuram – Intesa Sanpaolo Private Banking and REYL & Cie

- As part of the transaction, Fideuram – ISPB will merge its Swiss banking

subsidiary Intesa Sanpaolo Private Bank (Suisse) Morval into REYL & Cie,

further enhancing its leading position in the Swiss banking market.

- The resulting Geneva-based entity will retain the REYL & Cie legal name and

count close to 400 employees, AUM approaching CHF 25 Bln (EUR 23 Bln) and

regulatory shareholders' equity of about CHF 210 Mln (EUR 190 Mln)

- The parties will release a new logo combining their respective brands

    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.

    Following the closing of the transaction, REYL & Cie will retain its Geneva

headquarters and grow into a sizeable international banking group with close to

400 employees, AUM approaching CHF 25 Bln (EUR 23 Bln) and regulatory

shareholders' equity of about CHF 210 Mln (EUR 190 Mln).

    With its entrepreneurial DNA and innovative business model, REYL & Cie will

continue driving its successful 360 degree organic growth strategy, centred on

delivering innovative solutions to clients transversally across five business

lines: Wealth Management, Entrepreneur & Family Office Services, Corporate

Advisory & Structuring, Asset Services and Asset Management. Recent initiatives

such as Asteria Investment Managers and Obviam (Swiss regulated asset managers

dedicated to impact investing), or Alpian (a recently incubated aspiring

digital bank for mass affluent clients) will benefit greatly from the strategic

partnership.

    Fideuram - ISPB will control 69% of REYL & Cie's capital, while partners

Francois Reyl, Pasha Bakhtiar, Nicolas Duchene, Thomas Fontaine, Christian

Fringhian and Lorenzo Rocco di Torrepadula will collectively retain a 31%

stake. The partners remain committed over the long-term and will be responsible

for day-to-day management and strategy implementation.

    "The deal with REYL - comments Tommaso Corcos, CEO of Fideuram - Intesa

Sanpaolo Private Banking - reaffirms our international growth strategy by

consolidating one of the best Private Banks in the Eurozone and by having

Switzerland as the base of our network abroad. The combination of skills,

experience, innovation capabilities and a common culture of customer service,

constitutes the cornerstones on which to build a new leading international

bank, serving our most demanding clients. To accelerate business synergies

between the companies, Nicolas Duchene, deputy CEO and Partner of REYL, will

also take the role of General Manager of Intesa Sanpaolo Private Bank Suisse

Morval, on an interim basis, until the companies' legal merger."

    "The closing of the transaction – says Francois Reyl, CEO of REYL & Cie –

marks a new chapter in REYL's corporate history that will open a realm of new

development possibilities for both parties. We are convinced that Fideuram –

Intesa Sanpaolo Private Banking's quality and financial power associated with

REYL's entrepreneurial spirit and innovation capability will create the perfect

conditions to achieve success in the current environment. We look forward to

forming lasting bonds with our new colleagues and working as one team, building

together a leading international private banking group and reinforcing our

value proposition for the benefit of our clients."

    About Fideuram – ISPB and ISPBM

    Headquartered in Milan, Fideuram – Intesa Sanpaolo Private Banking is the

no.1 Italian domestic private banking player and a key affiliate of Intesa

Sanpaolo Group, consolidating all of Group's private banking activities. As at

31 March 2021, Fideuram – ISPB had 3,107 employees, 5,743 private bankers, AUM

of CHF 292.4 Bln (EUR 264,1 Bln) and Net Inflows of over CHF 1.9 Bln (EUR 1.7

Bln) entrusted by more than 800,000 clients.

    ISPBM traces its foundation back to 1974, by the Zanon Valgiurata family,

headquartered in Geneva with offices in Lugano, London, Monaco, Bahrain, the

Cayman Islands, Buenos Aires and Montevideo; ISPBM was incorporated into

Fideuram in 2018. As at 31 March 2021, ISPBM managed assets of approximately

CHF 5.7 Bln (EUR 5.1 Bln) and employed 172 professionals.

    About REYL

    Founded in 1973 by Dominique Reyl, the REYL Group is a diversified and

entrepreneurial banking group with offices in Switzerland (Geneva, Zurich,

Lugano), Europe (London, Luxembourg, Malta) and the rest of the world

(Singapore, Dubai). As at 31 December 2020, REYL manages assets in excess of

CHF 15.5 billion (EUR 14 Bln) and employs more than 245 professionals.

Developing an innovative approach to banking, REYL serves a clientele of

international entrepreneurs, family offices and institutional investors through

its Wealth Management, Entrepreneur & Family Office Services, Corporate

Advisory & Structuring, Asset Services and Asset Management business lines.

    Media contacts:

    Fideuram - Intesa Sanpaolo Private Banking

    Pierantonio Arrighi

    Head of Media Relations Wealth Management

    Tel: (+39) 02 87963119          

    pierantonio.arrighi@intesasanpaolo.com      

    REYL

    Jerome Koechlin

    Head of Communications

    Tel: (+41) 22 816-8177

jkoechlin@reyl.com                                                          

    Logo: https://mma.prnewswire.com/media/1307210/REYL_Logo.jpg  

    Logo: https://mma.prnewswire.com/media/1307207/Fideuram_Logo.jpg  

    Source: REYL Group