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State Street awarded Italian custody business from Banca Mediolanum

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State Street has been appointed to provide custody services for Banca Mediolanum’s Italian assets.



State Street will also serve as the sole global custodian for the Italian entity of the Mediolanum Group.

Banca Mediolanum has more than EUR43bn in assets and serves more than 1.1 million customers in Italy. 

State Street will provide an integrated post-trading solution to support Mediolanum’s global needs and streamline settlements with its preferred providers.

“We are delighted to further extend our relationship with Banca Mediolanum as we support their global investment servicing needs,” says Riccardo Lamanna, managing director and head of State Street’s global services business in Italy. “Building on the success of our acquisition of Intesa Sanpaolo’s securities services business, this win further confirms our commitment to the Italian marketplace. State Street’s global product range coupled with our local expertise make us uniquely suited to partner together with Banca Mediolanum as they grow their business.”

State Street acquired Intesa Sanpaolo’s Securities Services business in May 2010. State Street now has more than 440 employees in Italy providing a range of investment and asset management services to institutional investors.

“After an extensive review, State Street was our clear choice to service our domestic and global mandate,” says Massimo Doris, chief executive of Banca Mediolanum. “State Street is one of the most important players in the financial world and we’ve enjoyed a mutually beneficial partnership over the years.”

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