The private banking arm of Intesa Sanpaolo Group, Fideuram Intesa Sanpaolo Private Banking (FISPB), has partnered with BlackRock to develop its digital wealth management offering across Europe.

The Italian firm has launched a new initiative, aimed at increasing its market offering geographically and through brokerage, hybrid advisory, and discretionary portfolio management services via digital channels.

Its collaboration with BlackRock, which was led by BlackRock head of Southern Europe, Giovanni Sandri, will see FISPB seeking to leverage the investment capabilities of BlackRock, its technology expertise, and knowledge of the wealth market to expand its digital proposition.

The initiative will expand into Europe, beginning with Belgium and Luxembourg, where its subsidiary Intesa Sanpaolo Wealth Management operates.

In line with its 2022-25 business plan, FISPB has expanded its offering through its digital transformation process, with its wealth management platform Fideuram Direct offering direct investing in financial markets.

Commenting on the partnership, Intesa Sanpaolo CEO, Carlo Messina, said the agreement was a “perfect fit” with the firm’s strategy, based on the growth of its wealth management business and the development of new digital solutions.

“This collaboration with BlackRock will enable us to increase our European customer base by offering cutting edge solutions,” he added.

Intesa Sanpaolo Wealth Management Divisions head, Tommaso Corcos, commented: "We are excited about this new collaboration with BlackRock that gives us the opportunity to strengthen our plans in digital wealth management and expand further in Europe, a market with significant room for growth, where we can leverage our expertise, strength, and track record in savings and investment management.”

Also commenting on the partnership, BlackRock International head, Rachel Lord, said: “I am delighted that BlackRock’s global investment expertise and market-leading technology capabilities will enable FISPB to accelerate the next phase of growth for their business.

“We look forward to helping them deliver for their clients in both existing and new markets and drive positive outcomes for a new generation of investors.”

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