Intesa Sanpaolo: agreement to acquire Swiss private bank.
(CercleFinance.com) - Intesa Sanpaolo has reached an agreement with Morval Vonwiller's shareholders for the sale of the Swiss financial group, including Banque Morval.
The Italian bank said the agreement meets its strategic plan to strengthen its presence on the international private banking market.
Intesa said the presence of Morval Vonwiller in Geneva will improve the position of its private banking division, which is already operating in Lugano, London and Luxembourg.
The operation is subject to obtaining the required permissions.
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