Intesa Sanpaolo stays on track with its strategy to strengthen its international network by transforming the representative office in Sydney into an operational branch, a move to consolidate its presence in the Asia-Pacific region. Local authorities have granted authorisation in the last few days for the Sydney branch, and we anticipate becoming fully operational in the first quarter of 2021.
Intesa Sanpaolo’s IMI Corporate & Investment Banking Division, led by Mauro Micillo, therefore strengthens its international network, which now consists of 4 hub branches, 11 operational branches, 9 representative offices and 4 corporate banks across 25 countries worldwide.
The Sydney branch, under the responsibility of Kevin Salerno, will flank the Shanghai, Singapore and Tokyo branches and will be supervised by the Hong Kong Hub - led by Alessandro Vitale - which coordinates the bank’s activities across the Asia-Pacific region (APAC) and also supervises the representative offices located in Beijing, Ho Chi Minh City, Jakarta, Mumbai and Seoul.
“The opening of the Sydney branch is a truly important step in our international development plan,” comments Mauro Micillo, Head of the IMI Corporate & Investment Banking Division of Intesa Sanpaolo, “and significantly strengthens Intesa Sanpaolo’s presence in the Asia-Pacific region. The new branch will allow us to support Italian companies even better in their internationalisation efforts; it will also intensify our support to the main local and international operators on the Australian market given the important projects that are in progress to strengthen infrastructure and development opportunities in the country’s main industrial sectors.”
“Australia is one of the most attractive international markets for Italian businesses, which have been seizing this opportunity for some time, as shown by the solid trade figures between the two countries,” adds Gianluca Cugno, Head of the International Department within the IMI Corporate & Investment Banking Division, “and being the only Italian bank with a branch in Australia delivers a distinct value within our global development strategy.”