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Mediobanca makes move into digital assets investment banking space

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Mediobanca has completed the acquisition of Arma Partners LLP, an established European financial advisory company operating in the digital economy sector. The deal, which was originally signed in May 2023 with the partners of Arma Partners, has a strong strategic rationale for Mediobanca with the objective of creating a leading digital economy franchise within its Corporate & Investment Banking division.

In particular, in accordance with the objectives of the Mediobanca Group strategic plan, the partnership with Arma Partners is designed to contribute to the creation of a stronger, broader and more diversified European advisory platform, with higher capital light and non-domestic revenues (set to grow from 40 to 55%).

Mediobanca said the acquisition should also generate new business opportunities from synergies between the group’s divisions, in particular between CIB and Wealth Management, as the model becomes more firmly established.

Founded in 2003, Arma Partners is headquartered in London and has offices in Munich, a presence in the United States, and affiliate relationships with specialist advisory firms in Japan, Australia, Israel, Turkey and Brazil. Operating based on a specialised model focused on advisory services, Arma Partners serves companies, investors and entrepreneurs working in the global digital economy.

The company is also a partner in corporate finance matters for major listed companies and private equity funds operating in innovative sectors, where Arma Partners assists at all stages from raising private capital, to supporting rapidly growing businesses, to executing complex cross-border M&A deals.

Arma Partners has advised on more than USD 90m of deals

In the past five years, the Arma Partners team – which today has 12 partners and 83 employees, including 67 bankers from over 26 countries – has advised on over 110 completed transactions, 75% of which were cross-border, with an aggregate market value of $90bn. Despite adverse macroeconomic market conditions, Arma Partners announced record results in 2023 for the third year running, with revenues in excess of $100m.

The investment in Arma Partners fits with Mediobanca’s ambition to create solid long-term growth by leveraging on industrial trends such as the digital economy, on specialist competences and on talented people. Based on this approach, the advisory business could potentially establish itself as a contributor to the Corporate and Investment Banking division’s revenues, with fee income set to increase by 30% for the division and by 10% for the group.

Arma Partners will continue to be managed by its founder and managing partner Paul-Noël Guély, who will work closely with Francisco Bachiller and Giuseppe Baldelli, the co-heads of Global Corporate & Investment Banking at Mediobanca, with the objective of expanding the Mediobanca CIB platform’s international origination and of carving out a role of primary importance for the division in the European digital economy.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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