22 August 2017 – The shareholders of Morval Vonwiller Holding SA (the «Group»), and Intesa Sanpaolo SpA, one of the leading banking groups in Europe and the Italian leader in the retail, corporate and wealth management activities, have signed an agreement for the sale and purchase of the Group, including Banque Morval SA. The agreement is in line with Intesa Sanpaolo's strategic plan to strengthen its presence on international markets in the field of private banking. The Group's presence in Geneva will permit Intesa Sanpaolo's Private Banking Division, currently present in Lugano, London and Luxembourg, to further expand its geographic footprint.

Following completion of the transaction, the Group will benefit from the scale, scope and financial strength of Intesa Sanpaolo. This initiative will provide strong benefits to the customers and employees of the Group, offering the combined advantages of Banque Morval’s positioning as an international private banking boutique and Intesa Sanpaolo’s status as a leading European financial institution.

Members of the Zanon di Valgiurata family (which founded the Group) currently involved in the Group's management will remain minority shareholders and continue to be involved in managing the Group's affairs.

The transaction is subject to obtaining all necessary regulatory authorizations.

Walder Wyss is acting as legal advisor to the Group and its shareholders with regards to all legal and regulatory aspects of the transaction. The team consists of Patrick W. Vogel (Partner, Corporate/M&A), Hubertus Hillerström (Managing Associate, Banking & Finance), Laurent Schmidt (Associate, Corporate/M&A) and Philippe Kohler (Associate, Banking & Finance).