REYL Intesa Sanpaolo, majority-owned by Fideuram - Intesa Sanpaolo Private Banking since May 2021, today announces the completion of the merger between the banks REYL Intesa Sanpaolo and Intesa Sanpaolo Private Bank (Suisse) Morval.
The legal merger between REYL Intesa Sanpaolo and Intesa Sanpaolo Private Bank (Suisse) Morval (ISPBM) has been approved by the Swiss Financial market Supervisory Authority (FINMA). This merger is part of the strategic alliance with Fideuram – Intesa Sanpaolo Private Banking, a business controlled by the Italian banking giant Intesa Sanpaolo, which concluded at the end of May 2021. Fideuram – Intesa Sanpaolo Private Banking acquired a 69% stake in REYL Intesa Sanpaolo, partially through the contribution in kind of its Swiss banking subsidiary Intesa Sanpaolo Private Bank (Suisse) Morval, based in Lugano. The partners of REYL Intesa Sanpaolo hold collectively 31% of the combined entity.
Last year Nicolas Duchêne, Deputy Chief Executive Officer and Partner of REYL Intesa Sanpaolo, was appointed Interim CEO of ISPBM to ensure the success of the operational transition and the integration of teams. The new visual identity was applied to its marketing materials and launched in all of its markets in early 2022.