The MFO and a Russian bank have signed partnership agreement, through which the former exclusively offers the bank's private banking clients access for structuring and managing family wealth.

Oracle Capital Group, the multi-family office, said today it has signed a partnership agreement with Banca Intesa, the Russian branch of Italy's Intesa Sanpaolo.

Under the terms of the agreement, Oracle will exclusively offer Banca Intesa’s private banking clients its services for structuring and managing family wealth; for financing and protecting assets; for setting up companies in foreign jurisdictions; and for corporate, tax and judicial matters. Oracle Capital Group will also handle matters regarding the purchase of real estate in London and concierge services.

“Without doubt we are thrilled by the opportunities which are opening up for Oracle Capital Group in Russia, because this is one of the key development markets for our group of companies,” said the Head of Oracle Capital Group’s representative office in Russia, Yulia Makeeva.

Oracle was founded in 2002 and is headquartered in Luxembourg, with seven offices (London, Luxembourg, Geneva, Nassau, Moscow, Almaty and Limassol) and employs over 100 staff worldwide. As for Banca Intesa, its core business is providing corporate credit to small and medium-sized busineses and had assets of RU72 billion (around $1.087 billion) as at the end of June this year.

In January this year, Oracle added an accountancy and tax service to its offering for clients with personal or corporate interests in the UK. Oracle's chief financial officer, Rosie Chalmers, who is also a UK chartered certified accountant, leads the service.