REYL Intesa Sanpaolo completes merger with Swiss unit

REYL Intesa Sanpaolo, formerly Reyl & Cie SA, completed its merger with Intesa Sanpaolo SpA's Swiss unit Intesa Sanpaolo Private Bank (Suisse) Morval SA.

The merger, which was approved by the Swiss financial market supervisory authority FINMA, was part of a strategic alliance with Fideuram - Intesa Sanpaolo Private Banking SpA, a business also controlled by Intesa Sanpaolo that acquired a 69% stake in REYL Intesa Sanpaolo. The partners of REYL Intesa Sanpaolo hold collectively 31% of the combined entity.

In 2021, REYL Intesa Sanpaolo's deputy CEO and partner, Nicolas Duchêne, was appointed interim CEO of Intesa Sanpaolo Private Bank (Suisse) Morval to ensure the success of the merger.

REYL Intesa Sanpaolo holds assets under administration of more than CHF 25 billion, excluding the assets managed by 1875 Finance SA, in which REYL Intesa Sanpaolo has acquired a 40% stake in August 2021.