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Mediolanum Consolidates its Commitment to Spain with Sustained Growth

The Italian financial entity celebrates 25 years in the country and plans to expand its network of advisors and offices.

Generic image of an office building in Barcelona.
IA

Generic image of an office building in Barcelona.

The Italian bank Mediolanum, present in Spain since 2000, has consolidated its presence with uninterrupted growth in clients and assets, surpassing 292,000 clients and 15.5 billion euros in managed assets.

The Italian financial entity Mediolanum began its operations in Spain in 2000, acquiring Fibanc. Since then, it has replicated its business model, based on the figure of the family banker, a financial advisor who offers personalized service and visits clients at their homes. This model contrasts with the traditional expansion of bank branches, focusing on investment management such as funds, pension plans, and life insurance.
Over the last 25 years, Mediolanum has experienced steady growth in the Spanish market. According to the entity's data, the client base has increased uninterruptedly for the past 16 years, exceeding 292,000 clients in 2019. Managed assets have tripled in seven years, reaching over 15.5 billion euros. The network of family bankers has also grown significantly, with 1,670 professionals, a 62% increase since 2019.
The CEO of Mediolanum in Spain, Luca Bosisio, highlights that the growth rates in Spain are higher than those recorded in Italy 15 years ago. With 21% of family savings managed in Italy, the entity aims to increase its market share in Spain, where it currently accounts for less than 1%. Bosisio is "very optimistic" about the future of the Spanish subsidiary, noting a 60% growth in wealth management over the last two and a half years.
In a context marked by digitalization, Mediolanum emphasizes the value of personalized advice from its family bankers. The group's CEO, Massimo Doris, son of founder Ennio Doris, underlines the importance of advice "in times of artificial intelligence." The entity aims to integrate technology by "renting" it, without neglecting interpersonal relationships.
Contrary to the trend of reducing branches, Mediolanum plans to expand its network of offices, known as family bankers' offices. New openings are planned in cities such as Seville, Valencia, Málaga, and Bilbao. The operational headquarters remain in Barcelona, although the registered office was moved to Valencia in 2017 for "operational interest," as it is where the group has the most clients and sales network.

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