Azimut Holding promotes new listed company to create a fintech bank

Azimut Holding outlines the macro-guidelines of a new project for the creation of a new fintech bank that will be submitted to the competent Supervisory Authorities for authorisation once the design of the operation has been completed. The project approved by the Board of Directors envisages the spin-off of part of the Italian network of financial advisors, which will merge into a new digital bank with the aim of listing it within 6-9 months.

The new reality, independent from the Azimut Group, will be able to include banking/financial partners in the shareholding structure and will have at the start-up at least 20 billion in assets under management to which approximately one thousand financial advisors will refer and will be characterised by a strong growth orientation. In five years, 10% of the share capital (2% per year) of the new bank will be assigned to the financial advisors already in the structure and to those who will enter the new reality from the market, rebuilding the model based on partnership and on the participation of financial advisors in the shareholding structure that has characterised Azimut in its 34 years of history.

"The project is expected to bring significant value for the existing shareholders of Azimut Holding through the spin-off and listing of the new digital bank and further opportunities for future growth," reads a note.

The new company, once the authorisations have been obtained and operations have started, aims to double profits and assets under management/administration in 5 years, under normal market conditions, in line with what the Azimut group has always achieved in previous business plans. In the first 5 years, managed, insurance, advisory and administered assets are expected to grow between EUR 16 and 19 billion, and cash and current accounts between EUR 7.5 and 10 billion. By 2029, the plan envisages the addition of 500 new professionals from the market, including wealth managers, private bankers and financial advisors, also thanks to the possibility of participating in the company's capital. In order to support and enhance the activities of Financial Advisors and diversify sources of growth and revenues, the new fintech bank will have a stake in the capital of Azimut Marketplace, the digital platform for services to SMEs.

Through the new digital bank, which will have a strongly technological imprinting, the value proposition for all Azimut Group customers in Italy will be expanded, both on the retail/affluent and private sides. Azimut Holding will have a 20-year guarantee from the new entity of the revenues generated by the existing assets at the time of the contribution and will make use of the new company's banking services. Azimut Holding will remain independent and listed on the stock exchange, with Timone Fiduciaria retaining its role as reference shareholder. Azimut Holding, which will continue to operate without a banking licence, will continue its growth strategy according to the group's current business model. This includes distribution activities in Italy, the entire global asset management platform (public and private markets), the partnership with UniCredit, the entire international perimeter and all other Fintech and Corporate Investment Banking activities. Azimut Holding will present its new 2025-2029 strategic plan in the coming months, which will remain inspired by revenue growth, operational efficiency and further shareholder value creation.