A strategic private banking partnership has been established between Belgian-Dutch group Fortis and Milan-listed wealth manager Banca Interm...

A strategic private banking partnership has been established between Belgian-Dutch group Fortis and Milan-listed wealth manager Banca Intermobiliare di Investimenti e Gestioni (BIM). Fortis will acquire 10 per cent of BIM for around E85m cash thus becoming BIM's second-biggest shareholder. Italy, is a priority country for Fortis in which it operates under the MeesPierson brand. The partnership will allow the two groups to develop projects and new initiatives in Italy for the private banking and trust markets. BIM will offer MeesPierson’s international private banking products including asset protection and structuring, international trust services and international tax planning.