Fideuram Intesa Sanpaolo Private Banking (FISPB), the private bank of the Intesa Sanpaolo Group, in partnership with BlackRock, launched a new wealth management initiative.
The new wealth management initiative is designed to advance the growth of FISPB’s digital wealth management offering in Italy and across Europe.
According to Intesa Sanpaolo, FISPB aims to expand its geographical reach and enhance its digital services in brokerage, hybrid advisory, and discretionary portfolio management.
It will leverage BlackRock’s investment expertise, advanced technology capabilities and deep knowledge of the wealth market, to provide a comprehensive investment platform.
Intesa Sanpaolo CEO Carlo Messina said: “This agreement is a perfect fit with our strategy based on the growth of our Wealth Management business and the development of new digital solutions.
“This collaboration with BlackRock will enable us to increase our European customer base by offering cutting-edge solutions.”
Intesa Sanpaolo wealth management divisions head Tommaso Corcos said: “We are excited about this new collaboration with BlackRock that gives us the opportunity to strengthen our plans in digital wealth management and expand further in Europe.”
FISPB and Blackrock, both aim to provide clients with diverse channels to transition from saving to investing and achieving personalised financial goals.
The new wealth management initiative will initially expand into Europe, starting with Belgium and Luxembourg, where Intesa Sanpaolo Wealth Management operates.
Intesa Sanpaolo said it has developed a unique business model with a strong component of commission revenues from wealth management and protection, supported by digital tools.
FISPB has advanced its digital transformation with the digital wealth management platform Fideuram Direct, in line with the Group’s 2022-2025 business plan.
BlackRock International head Rachel Lord said: “I am delighted that BlackRock’s global investment expertise and market-leading technology capabilities will enable FISPB to accelerate the next phase of growth for their business.
“We look forward to helping them deliver for their clients in both existing and new markets and drive positive outcomes for a new generation of investors.”
