Italian banking group Intesa Sanpaolo has announced its acquisition of REYL & Cie, a deal which will create a new Geneva-headquartered private banking group with CHF 18 billion under management.
Intesa, via its private banking division Fideuram, will buy a 69 percent interest in REYL for an undisclosed sum. It will then merge its Swiss private banking business, Intesa Sanpaolo Private Bank (Suisse) Morval (ISPBM) – acquired in 2019 – with REYL.
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