Italian Private Bank Enjoys Surge in Assets

Chris Owen

6 August 2007

Banca Esperia, the Italian private banking joint venture between Mediobanca and Mediolanum investment banks, said its assets under management in the first six months of the year increased by €2.4 billion. The bank, which celebrated its fifth year of operation in 2006, said the rise was a 25 per cent increase on the end 2006 figure and brought total assets under management to €12 billion. Banca Esperia is reviewing its growth strategy, according to Italian press reports, and is considering both organic and acquisitive options. A leader in the hedge fund sector, it currently has offices in Bologna, Brescia, Florence, Genoa, Milan, Modena, Naples, Padua, Rome and Turin.