The guidelines of the 2019/2023 plan, presented in November 2019, presented in November 2019, aim for additional development in all business segments, growth in revenue, earnings, shareholder return and the satisfaction of all stakeholders while preserving one of the best risk/return ratios in Europe
In April 2019 Mediobanca Group have established a long-term strategic partnership with Messier Maris & Associés, the top three French Corporate Finance houses with a very large, international and recurrent client base. As part of the deal Mediobanca has acquired a 66% stake in Messier Maris & Associés. Mediobanca strengthens its’ Investment Banking presence in France, third core market after Italy and Spain.
In August Compass signed an agreement to acquire a 19.9% stake in leading Indonesian independent consumer credit operator BFI Finance. The domestic consumer credit business is now complemented by operations in Indonesia as a second market with great potential distinguished by its strong “growth”, high margins and low risk profile. BFI, leading independent player in consumer credit, is the ideal option for Compass to enter progressively in the Indonesian market due to its’outstanding profitability levels and growth rates. The deal is expected to close by year-end 2018.
In December Mediobanca has set up Mediobanca Private Banking, the new brand addressing High Net Worth Individuals (HNWIs).
The transaction is consistent with the strategy outlined in the 2016-19 plan, one of the priorities of which was the development of Wealth Management and top-end asset management services as a driver for growing highly-specialized banking activities, able to provide the Group with a recurring fee-generating, low capital-absorption base.
In November Mediobanca acquired a 69% interest in RAM. Founded in 2007, based in Geneva - Switzerland, RAM is one of Europe’s leading systematic investment managers, offering a range of actively managed and alternative systematic fundamental equity and tactical fixed-income funds to a wide array of institutional and professional investors.
In August the CSR committee has been appointed, the first Group Sustainability Policy and the first Group sustainability report have been published.
Mediobanca acquired Barclays’ retail banking business in Italy through the subsidiary Che Banca!. The deal saw CheBanca! double in size, adding scale and strength to the asset management business.
The new strategic plan was presented in November, which foresees speeding up the Group’s strategic repositioning in order to fully capture its value creation potential. Mediobanca has been reorganized into three main divisions: Corporate and Investment Banking, Consumer Banking, and the new Wealth Management division, development of which is now a priority. Full control of Banca Esperia has been acquired.
Mediobanca acquired control of London-based Cairn Capital with the aim of building an asset management platform. The deal marked a further step in the international development of Mediobanca.
The strategic plan 2014-2016 was presented in June, under which the bank would exit all existing shareholders’ agreements and sell non-strategic investments in various listed and unlisted companies. The plan also called for further international expansion, the strengthening of the corporate and investment banking division, and for retail banking to make a greater contribution to the group’s income.
CheBanca! was formed, the first native online bank operating on a multichannel distribution model (web, call centre and branches) for retail customers. In its first year CheBanca! received deposits of €5.3 billion and 170 thousand accounts were opened.
The group’s foreign expansion began. The first office to open is in Paris in 2004, followed by Moscow, Luxembourg, Frankfurt, Madrid, New York and London. Since 2013, Mediobanca also has a presence in Turkey with Mediobanca Advisory.
Alberto Nagel and Renato Pagliaro succeeded Vincenzo Maranghi as joint Heads of the Group, launching a business plan that marks a significant change in its model. The business plan introduced a focus on the development of consumer and retail banking, strengthening market operations (placements, M&A, trading in financial instruments), entering the asset management business and reducing historic shareholdings. The plan also called for the group to expand internationally.
Banca Esperia, a private bank, was launched through a joint venture with Mediolanum.
The bank’s founder Enrico Cuccia died in June. He had led the bank since inception. He was succeeded by Vincenzo Maranghi.
Mediobanca became one of the key players in the privatisation of Italy’s public companies, including Telecom Italia, Enel, Banca di Roma, and Banca Nazionale del Lavoro (BNL).
The group was privatised. As part of the privatisation, Mediobanca’s three founding banks (Banca Commerciale Italiana, Credito Italiano and Banco di Roma) reduced their collective stake to 25% and a further 25% was reserved to private investors. The banks and companies signed a block shareholders’ agreement to ensure stability and a clear strategic direction.
Selma was formed, one of the pioneers of leasing in Italy.
Mediobanca led the overhaul of Olivetti, redefining the strategy and financial structure of an industrial group that was part of Italian history.
Reconta was formed, the first Italian auditing firm (sold in 1981).
Mediobanca was listed on the stock market. The following year it successfully issued 10,000 shares priced at 12,800 lira each.
Compass was founded, from 1960 a pioneer in the Italian consumer credit market. The bank introduced personal lending to Italy and today still offers household financing to help families and individuals achieve their goals and buy assets. Compass became the market leader after acquiring Linea in 2008.
Mediobanca was founded to support the reconstruction, development and international expansion of Italy’s industry in the wake of World War II. The driving forces behind the bank’s establishment were Raffaele Mattioli (then Chairman of Banca Commerciale Italiana – BCI) and Enrico Cuccia. Its three founding banks were Banca Commerciale Italiana, Credito Italiano and Banco di Roma – all subsidiaries of IRI, Italy’s former public holding company.