Zurich Italy Buys Deutsche Bank Financial Advisors Network

Fazzaco learned that Zurich Italy has acquired the network of Financial Advisors of the Deutsche Bank Group in Italy. This business unit consists of 1085 Financial Advisors (March 2021), 97 employees and 16.5 billion euros of assets under management (March 2021).

The acquisition will allow Zurich Italy to further develop its distribution network in the Italian market, focusing on delivering excellence in the field of financial and insurance consultancy, backed by over thirty years of history in the Italian market and characterized by strong growth in recent years. It also offers further growth potential to the already successful network led by Silvio Ruggiu, thanks to the choice of a historic partner which intends to make targeted investments into the strong advisory capabilities of the network.

The acquisition enables Deutsche Bank​ to reposition its business in Italy by refocusing and reinvesting in areas where it can compete to win; as the house bank for family entrepreneurs, as the premium bank for affluent customers, and by leveraging its well-established consumer brands across digital channels.

As a result of this transaction, clients will be able to enjoy enhanced benefits deriving from the partnership between Deutsche Bank and Zurich, with the opportunity to access a more diverse offering of market-leading investment, insurance, banking and financial services.