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INTESA SANPAOLO CLOSES THE AGREEMENT FOR THE ACQUISITION OF THE MORVAL VONWILLER GROUP

Intesa Sanpaolo and the shareholders of Morval Vonwiller Holding SA (the "Group") have reached an agreement for the sale and purchase of the Group, including Banque Morval SA.

The agreement is in line with Intesa Sanpaolo's strategic plan to strengthen its presence on international markets in the field of private banking. The Group's presence in Geneva will permit Intesa Sanpaolo's Private Banking Division, currently present in Lugano, London and Luxembourg, to further expand its geographic footprint.

Intesa Sanpaolo and the shareholders of Morval Vonwiller Holding SA (the "Group") have reached an agreement for the sale and purchase of the Group, including Banque Morval SA.

The agreement is in line with Intesa Sanpaolo's strategic plan to strengthen its presence on international markets in the field of private banking. The Group's presence in Geneva will permit Intesa Sanpaolo's Private Banking Division, currently present in Lugano, London and Luxembourg, to further expand its geographic footprint.

Following completion of the transaction, the Group will benefit from the scale, scope and financial strength of Intesa Sanpaolo. This initiative will provide strong benefits to the customers and employees of the Group, offering the combined advantages of Banque Morval’s positioning as an international private banking boutique and Intesa Sanpaolo’s status as a leading European financial institution.

Members of the Zanon di Valgiurata family (which founded the Group) currently involved in the Group's management will remain minority shareholders and continue to be involved in managing the Group's affairs.

The transaction is subject to obtaining all necessary regulatory authorisations.

 

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