Pedersoli Studio Legale has advised Fideuram – Intesa Sanpaolo Private Banking (Intesa Sanpaolo Group) in the negotiation and execution of the agreement with State Street Bank International GmbH (Luxembourg Branch) for the undertaking by the latter of the activity as custodian bank and funds administrator currently carried out by the subsidiary Fideuram Bank Luxembourg.
State Street, as custodian bank and funds administrator, accounts for approximately 42 billion euro of asset management which will remain under the management of Fideuram Group – Intesa Sanpaolo Private Banking.
The completion of the transaction, subject to the necessary clearances from the competent authorities, is expected by the end of June 2021.
The Pedersoli team comprises Diego Riva (equity partner), Csaba Davide Jákó (partner) and Paolo Manzoni (senior associate).
Chiomenti has advised State Street Bank with a team including Alessandro Portolano (partner – Finance and Regulated Entities Practice) and Luca Frignani (partner – M&A Practice) with Corrado Borghesan, Nicola Cecchetto, Antonio Invernizzi and Alessandra Lo Muzio (associates).