Italy-based Mediobanca plans to launch a new asset management platform, Mediobanca Alternative Asset Management (MAAM), according to its Investor Day report.
The new MAAM is anticipated to improve the bank’s corporate investment banking activities. The new unit aims to implement a simplified business model focused on three activities, namely investment banking, retail and wealth management.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Alberto Nagel, CEO of Mediobanca, said the company is not intending to increase its capital in the next year, while at the same time is anticipating a return on equity ratio of 10%-11% by 2016.
According to the report, the bank will develop new activities, which will be built on the strategies that require less capital and create more commission. The new business model will be created through investments in human resources and technology.
Being developed on the lines of this new business model, the MAAM platform will be launched over a time span of three years. In the corporate and investment banking sector, the plan seeks annual growth of 10%, which will be achieved by means of increasing the client base to include more SMEs and institutional investors.
The report also stated that Mediobanca plans to reach out to new territories, which will include Middle East, Russia, Eastern Europe, Latin America and Benelux, as well as Turkey, Mexico and China and the company will appoint new personnel for these foreign locations. The foray into global market is in-line with the company’s strategy to command a portfolio of about 45% of the division’s revenues.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
