Banque Privee Fideuram Wargny, the Paris-based private banking subsidiary of the Italian private bank Fideuram, is close to announcing the s...

Banque Privee Fideuram Wargny, the Paris-based private banking subsidiary of the Italian private bank Fideuram, is close to announcing the sale of its online brokerage business, wargny.com, to Bourse Direct. Bourse Direct said in a statement that it was “under exclusive discussions” with Banque Privee Fideuram Wargny on the sale of wargny.com. But terms of the sale have yet to be finalised. The two firms said in a joint statement that the sale would enable Bourse Direct “to develop many synergies” with wargny.com The online brokerage has around 3,000 clients with around €120 million ($149.3 million) of assets under management. Banque Privee Fideuram Wargny said the sale would enable it to concentrate on “top-of-the-range private wealth management”. The bank currently has around 5,000 customers and €1 billion of assets under management.