Intesa to scout for private banking buys once context clearer – website

MILAN (Reuters) – Intesa Sanpaolo’s private banking arm Fideuram will resume looking for acquisition targets in its key markets once the implications of the Ukraine crisis are clearer, Fideuram CEO Tommaso Corcos was quoted as saying on Tuesday.

In an interview with Swiss financial news website finews.ch, Corcos said Fideuram would look to buy either single private banks or teams of bankers.

“We’ll consider specific targets in our key markets … but first we need to have a clear picture of the geopolitical consequences of all that happened recently,” he said.

(Reporting by Valentina Za; editing by Agnieszka Flak)