After a nine-month procedure, Fideuram has received the green light from the ECB, CSSF and the Commissariat aux Assurances (CAA) to take over 100% of shares in the private banking company Quilvest.
The bank will continue to monitor the investment of fortunes belonging to both Italian and foreign high net-worth individuals. The Luxembourg branch manages around 8 billion euros’ worth of assets.
Fideuram’s headquarters are in Milan, while the bank is a branch of the Intesa Sanpaolo group, which employs 6,600 people and manages more than 330 billion in financial funds.
