Banca Ifis, green light from the ECB to the passage of control in Furstenberg Fassio

With the authorization issued by the European Central Bank, Sebastien Egon von Furstenberg, president of La Scogliera, the holding company that controls Banca Ifis (the bank closed 2019 with a net profit of 123.1 million and a equity of 1.54 billion), transferred the bare ownership of approximately 51% of the company’s share capital and related voting rights to his son Ernesto Furstenberg Fassio.

The generational shift

Ernesto Frstenberg Fassio, therefore, the new indirect control shareholder of Banca Ifis SpA – reads a note from La Scogliera, which also specifies that – for the exclusive purpose of benefiting from the tax breaks provided for by article 3 paragraph 4-ter of the d 346/90 for transfers of controlling interests in favor of descendants, Ernesto Frstenberg Fassio will retain control of the Company for a period of not less than 5 years from the date of the transfers.
I believe that the moment of generational change within multiple stakeholders, such as banks and their parent companies, must be addressed in time, when people with more experience, like myself, still want and energy to bring value Sebastien Egon von Furstenberg said that he remembered when he founded Banca Ifis in 1983 by supporting its development and growth to increase its net assets in the last 25 years by around 1.5 billion euros and the distribution by around 0 euros, 4 billion dividends. The certainty of the ownership structure in the bank, tomorrow and the day after tomorrow, implemented today – added the president – will allow to achieve new successes, taking on the challenges of modernity and adding new and dynamic skills to the foundations of the family tradition. I also intend to continue to contribute to the bank in all these new challenges.

Ownership structures

The experience gained over the years as CEO of La Scogliera has allowed me to appreciate the importance of stable ownership structures – said his son Ernesto Furstenberg Fassio -. My father’s will to continue to follow the activities of the holding company and Banca IFIS, at the same time guaranteeing a gradual generational change aimed at incisively addressing the challenges of the future, the demonstration of a full commitment of our family with respect to the development of the Institute.