Wealth Management Italy

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6 November 2003


Milan, Italy November 6, 2003

Wealth Management in Italy

Despite unfavorable world market conditions, the wealth management market in Italy is growing quickly. The 3 trillion in wealth and vigorous investor needs make the Italian market attractive not only for local development, but also to foreign institutions. In a new report, Celent examines the Italian situation through a case study of wealth management at a major regional bank.

In early 2001, one of Italys major regional bank decided to re-engineer its entire multi-channel strategy and the branch office, focusing initially on wealth management strategies to retain and acquire new customers in the private banking segment. The bank wanted to transform the far-flung branch network into a sales-effective, client-centric front line. The bank searched for components and solutions to offer high-touch services to the most demanding segment of its retail clientele. For the first time, advisors and private bankers were able to access a single client view to get a holistic picture of customer's profile, aggregated assets, and liabilities positions.

This report examines the current wealth management market in Italy, taking a closer look at the latest trends and business models. This research also presents a case study of a wealth management technology implementation of one the largest Italian regional banks and how it is employing Finantixs wealth management technology to reengineer its branch office and build a multi-channel advisor-centric institution.

"In the past two years, the Italian banking market has undergone a transformation, with an emphasis on consolidation and internal reorganization," says Isabella Fonseca, author of the report. "Banks have realized the importance of centralizing operations and allocating resources in order to better understand their client base and compete with foreign institutions planning to target the Italian clientele with boutique-level services. We should expect on-going activity in the Italian wealth management arena over the next year."

This 29-page report contains 5 figures and 4 tables.

A is available online.

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