We have organised the group structure in order to exploit growth opportunities in the corporate, consumer lending and wealth management sectors, creating a new pillar dedicated to wealth management.
The segmentation reflects a diversified and balanced range of business operations. Specifically, the development of the wealth management segment will bring a significant increase in profitability.
CORPORATE & INVESTING BANKING
We are the leading investment bank in Italy, with a growing presence in Europe. Now relieved of group treasury, ALM and management tasks, the new CIB division has delivered significant profitability (ROAC at 15% in June 2019), resilient client revenues and a low risk profile.
CIB can boast: an established brand known for reliability and prudence; a client-centric organisation, mainly comprising medium-large and large corporations; and CEO engagement with major clients.
The CIB division also incorporates Specialty Finance (factoring and credit management).
CONSUMER BANKING (CB)
The division is focused on Compass, currently one of the top three Italian providers of consumer lending.
Compass has more than 2 million customers, a broad and diversified distribution network (199 branches, more than 5000 desks in third-party banks, 14,000 post offices and numerous agreements with distributors and agents) and a value-based management approach.
The division has an established brand that is a synonym for reliability, high customer satisfaction and excellent asset quality.
Compass has delivered impressive growth in recent years.
WEALTH MANAGEMENT (WM)
We have created a dedicated wealth management division to deliver growth and an established presence in the sector.
CheBanca! was founded in 2008 as the first native multichannel bank in Italy. It is now set to complete its transformation into an asset manager for affluent and premier customers, with major investments in distribution and innovation.
The division includes also Private & HNWI operations and an asset management product factory.
PRINCIPAL INVESTING (PI)
The division, which holds the investment in Assicurazioni Generali (13% as at 30 June 2019) and a portfolio of available-for-sale securities, will continue to sell down its exposure. This will release additional capital for the development of the banking business and bring greater regulatory efficiency.
MEDIOBANCA GROUP’S ORGANISATIONAL STRUCTURE