Intesa Sanpaolo: Agreement with BlackRock to Develop Digital Wealth Management in Europe

MILAN and NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Fideuram Intesa Sanpaolo Private Banking (FISPB) – the private bank of the Intesa Sanpaolo Group – is set to accelerate the growth of its Digital Wealth Management offering in Italy and across Europe, in collaboration with BlackRock, the world's leading asset manager.

“This agreement – says Carlo Messina, CEO of Intesa Sanpaolo – 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.”

FISPB plans to increase its market offering both geographically and through best-in-class brokerage, hybrid advisory and discretionary portfolio management services, delivered via digital channels.

Through this collaboration with BlackRock, FISPB will leverage the extensive investment expertise of BlackRock, its advanced technology capabilities and deep knowledge of the wealth market to expand its digital proposition, empowering clients with a comprehensive and easily accessible investment offering.

The initiative will expand into Europe beginning with Belgium and Luxembourg, where the subsidiary Intesa Sanpaolo Wealth Management operates and where attractive growth opportunities have already been identified.

"We are excited about this new collaboration with BlackRock – said Tommaso Corcos, Head of Intesa Sanpaolo Wealth Management Divisions – that gives us the opportunity to strengthen our plans in digital wealth management and expand further in Europe, a market with significant room for growth, where we can leverage our expertise, strength, and track record in savings and investment management.”

Rachel Lord, Head of BlackRock International, 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.”

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