Banca Unione di Credito
Encyclopedia
Banca Unione di Credito is a full service
bank based in Lugano
, Switzerland
, that specialises in private banking
.
Full service
Full service is a term that has many different uses. In general the term implies that the customer will receive as much service as is reasonably possible.-Gas station:...
bank based in Lugano
Lugano
Lugano is a city of inhabitants in the city proper and a total of over 145,000 people in the agglomeration/city region, in the south of Switzerland, in the Italian-speaking canton of Ticino, which borders Italy...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
, that specialises in private banking
Private banking
Private banking is banking, investment and other financial services provided by banks to private individuals investing sizable assets. The term "private" refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers...
.
History
- 1919 - Credito ItalianoCredito ItalianoCredito Italiano it was an Italian bank, now part of UniCredit Group. It was absorbed by Unicredit in 1998.Founded on April 28 1870 in Genoa as Banca di Genova, it took part in the establishment of Banco d'Italia and...
established Banca Unione di Credito in Switzerland. - 1947 - The FiatFiatFIAT, an acronym for Fabbrica Italiana Automobili Torino , is an Italian automobile manufacturer, engine manufacturer, financial, and industrial group based in Turin in the Italian region of Piedmont. Fiat was founded in 1899 by a group of investors including Giovanni Agnelli...
Group acquired the entire share capitalShare capitalShare capital or issued capital or capital stock refers to the portion of a company's equity that has been obtained by trading stock to a shareholder for cash or an equivalent item of capital value...
to make BUC its house bank. - 1984 - BUC established a subsidiarySubsidiaryA subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
in ZurichZürichZurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
. - 1990 - BUC established a representative office in ArgentinaArgentinaArgentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
. - 1991 - BUC established a subsidiary in GenevaGenevaGeneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
. - 1993 - BUC acquired Overland Bank, also based in Lugano, and doubled in size.
- 1994 - BUC established a subsidiary, Banca Unione di Credito (Cayman), Grand CaymanGrand CaymanGrand Cayman is the largest of the three Cayman Islands and the location of the nation's capital, George Town. In relation to the other two Cayman Islands, it is approximately 75 miles southwest of Little Cayman and 90 miles southwest of Cayman Brac.-Geography:Grand Cayman encompasses 76% of...
. - 1995 - BUC held about 8% of a stockbroker and fund management bank (SIM) in TurinTurinTurin is a city and major business and cultural centre in northern Italy, capital of the Piedmont region, located mainly on the left bank of the Po River and surrounded by the Alpine arch. The population of the city proper is 909,193 while the population of the urban area is estimated by Eurostat...
, Banca Patrimoni e Investimenti, which is the result of the merger of Gestnord Intermediazione SIM and Sella Investimenti Banca. - 2002 - BUC acquired a 26% stake in Lombard BankLombard BankLombard Bank Malta Plc is one of Malta's major banks, together with Bank of Valletta, HSBC Bank Malta and APS Bank. Today, Marfin Popular Bank of Cyprus is the largest shareholder with an equity stake of about 49%. Over 1,200 shareholders, including investment funds, hold the remaining shares...
Malta plc, VallettaVallettaValletta is the capital of Malta, colloquially known as Il-Belt in Maltese. It is located in the central-eastern portion of the island of Malta, and the historical city has a population of 6,098. The name "Valletta" is traditionally reserved for the historic walled citadel that serves as Malta's...
, the third largest bank in MaltaMaltaMalta , officially known as the Republic of Malta , is a Southern European country consisting of an archipelago situated in the centre of the Mediterranean, south of Sicily, east of Tunisia and north of Libya, with Gibraltar to the west and Alexandria to the east.Malta covers just over in...
, to become Lombard’s largest shareholder. - 2006 - Banca della Svizzera ItalianaBanca della Svizzera ItalianaBSI is the oldest bank in the Swiss canton of Ticino. Founded in 1873 in Lugano as the Banca della Svizzera Italiana, today BSI is an institution that specialises in asset management and related services for private and institutional clients...
(BSI) acquired Banca Unione di Credito. BSI is also based in Lugano and is a subsidiary of the Italian insurer Assicurazioni GeneraliAssicurazioni GeneraliAssicurazioni Generali S.p.A. is the largest insurance company in Italy and one of the largest in Europe. It has its headquarters in Trieste...
. Fiat sold BUC both to raise capital and to focus on its core automotive business.