Italy-based Mediobanca has launched a new private bank to meet the needs of local high net worth individuals (HNWIs).
The new unit, named Mediobanca Private Banking, will comprise around 90 bankers and offices across Italy. The business will be led by Angelo Vigano, who previously worked at Banca Esperia that was acquired by Mediobanca.
Mediobanca said that the deal aligns with its 2016-19 strategy, which prioritises the growth of wealth management and asset management services.
At the same time, the Italian bank also unveiled plans to strengthen its traditional and alternative product offering.
Mediobanca general manager Francesco Saverio Vinci said: “The launch of the new Mediobanca Private Banking brand puts the finishing touches to our coverage of the top end of the market (and the family office segment), which is already managed outside of Italy by Compagnie Monegasque de Banque and in fiduciary services through Spafid, and provides an opportunity to develop a unique service in private and investment banking which can make Mediobanca’s strong corporate expertise available for the benefit of its private clients.”