Typical client
New residents — operating accounts
UHNWI relocating to Italy who need to open local operating accounts, with streamlined KYC/AML compliance thanks to support from senior contacts within the banks.
Banking & Custody
Setup of banking and custody relationships for new residents and international clients.
Coordination of the setup of operating and custody accounts in Italy and abroad, selection of the depositary banks best suited to the client's profile, and orchestration with Italian and international private bankers for multi-currency liquid portfolios.
Who it's for
Who this practice serves.
Typical client
Families with liquid portfolios
Families seeking the right custodian configuration (Italian or international) for multi-currency liquid portfolios, with rotation across private banks and specialist managers.
What we do
Banking & Custody.
- Opening of operating accounts with leading Italian banks.
- Selection of depositary banks and custodians for liquid and illiquid portfolios.
- Coordination with the client's Italian and international private bankers.
- KYC/AML compliance for non-EU citizens and new residents.
The method
How we work.
01
Banking profile
Analysis of operating needs (transaction volume, currency, purpose of the accounts) and custody requirements (asset types, size, reporting complexity).
02
Counterparty selection
Comparison among leading Italian banks (UniCredit, Intesa, Mediobanca PB, Banca Generali) and international institutions (UBS, Credit Suisse, Deutsche, JP Morgan, Pictet).
03
KYC/AML onboarding
Preparation of the documentation package (PoF, PoW, ownership structure, tax compliance) and support through meetings with compliance officers and relationship managers.
04
Operational setup
Opening of operating and custody accounts, account credentials, activation of services (digital channels, family delegations, external managers), and definition of the reporting model.
Output
What we deliver.
Every mandate concludes with concrete, formal, and archivable deliverables.
- Banking memorandum with bank shortlist
- KYC/AML documentation package
- Framework agreement with the selected bank
- Consolidated reporting structure