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Cornèr Banca completes purchase of 2 Discover Financial Services units

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Cornèr Banca completes purchase of 2 Discover Financial Services units

CornèrBanca SA said Oct. 5 that it completed the of Diners Club Italia Srland Dinit d.o.o. from DiscoverFinancial Services for an undisclosed sum.

The purchase was officially approved Sept. 15 andfinalized Oct. 1, the Swiss bank said.

Diners Club Italia is the Diners Club International licenseefor Italy, San Marino and Vatican City, while Dinit d.o.o. is a Diners Clubcard transaction processor in Slovenia. Diners Club Internationalis a Discover Financial Services unit.

Diners Club Italia will be run by a new management team ledby CEO Davide Rigamonti and Managing Director Giglio del Borgo. SalvatoreMessina, former manager of the Banca d'Italia's Milan office, will becomechairman of the board of directors.