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UBI Banca (Unione di Banche Italiane S.p.A.) was one of Italy's leading commercial banking groups, formed on April 1, 2007, through the merger of Banche Popolari Unite (BPU) and Banca Lombarda e Piemontese. It offered a comprehensive range of banking, financial, and insurance services to retail, corporate, and private banking clients, primarily in Italy. With a strong regional presence, particularly in Northern Italy, UBI Banca focused on traditional banking activities while also developing its wealth management and digital offerings. In July 2020, Intesa Sanpaolo successfully completed a takeover bid for UBI Banca, leading to its full integration into the Intesa Sanpaolo group. The legal merger was completed in April 2021, effectively ceasing UBI Banca's operations as an independent entity. Its assets, branches, and customer relationships were subsequently absorbed by Intesa Sanpaolo.
Served as the central administrative and strategic hub for the banking group, overseeing national operations, corporate strategy, risk management, and key decision-making processes before its acquisition.
The Bergamo headquarters was situated in Piazza Vittorio Veneto, a historically significant and central area of the city. The building itself was a prominent fixture, reflecting the bank's established presence and its roots through predecessor banks like Banca Popolare di Bergamo.
As a major Italian bank, the work culture at UBI Banca's headquarters likely emphasized professionalism, customer-centricity, regulatory compliance, and inter-departmental collaboration. It would have combined traditional banking values with efforts towards modernization and digital transformation, particularly in its later years as an independent entity.
The Bergamo headquarters symbolized UBI Banca's strong roots in the Lombardy region, a vital economic area of Italy. It was central to its identity, stemming from 'popular banks' (banche popolari) with close ties to local communities, SMEs, and retail customers.
UBI Banca's operations were predominantly focused on the Italian domestic market. While it served Italian companies operating abroad and maintained some international service capabilities, its direct 'global presence' was limited. This was primarily through correspondent banking relationships and a few strategically located representative offices (e.g., in cities like Hong Kong, Shanghai, Mumbai, Moscow, Sao Paulo, New York) designed to support its Italian corporate clients' international trade, finance, and expansion activities. It did not operate an extensive international retail branch network like some larger global banking institutions. Its international functions were mainly geared towards facilitating the global business of its domestic client base.
Piazza Vittorio Veneto, 8
Bergamo
BG (Lombardy)
Italy
Address: Piazza Monsignor Almici, 11, 25124 Brescia BS, Italy (Example of a major former office/secondary HQ)
Supported the bank's strong market share in Eastern Lombardy and surrounding areas, serving as a center for SME (Small and Medium-sized Enterprises) banking, agricultural lending, and retail operations in a highly industrialized and economically active region.
Address: Via Cino del Duca, 8, 20122 Milano MI, Italy (Former UBI Private Investment address; other corporate offices also existed)
Focused on serving larger corporate clients, high-net-worth individuals through its private banking division, managing financial market operations, and facilitating international trade finance, leveraging Milan's status as a major European financial center.
Address: Via Leonida Bissolati, 57, 00187 Roma RM, Italy (Example of a significant office in Central Italy)
Served as a strategic point for operations in Central and Southern Italy, supporting business development, managing relationships with public sector entities, and providing comprehensive banking services to customers in the region.
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As of April 2025, UBI Banca' leadership includes:
UBI Banca has been backed by several prominent investors over the years, including:
The period from late 2019 through 2020 was dominated by Intesa Sanpaolo's unsolicited takeover bid for UBI Banca. UBI Banca's executive team, led by CEO Victor Massiah, navigated this period. Following the successful acquisition by Intesa Sanpaolo in July-August 2020, the existing UBI Banca executive team largely ceased their roles as the bank was prepared for full integration. Most 'exits' were a direct result of this merger rather than typical executive turnover within an ongoing independent concern.
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Prior to its acquisition and integration into Intesa Sanpaolo, UBI Banca, like many Italian corporations, utilized standardized email formats for its employees. These formats commonly involved combinations of the employee's first name and last name. Based on typical corporate practices in Italy, plausible formats included `firstname.lastname@ubibanca.it` or `f.lastname@ubibanca.it`. Following the acquisition, the @ubibanca.it domain was phased out.
[firstname].[lastname]@ubibanca.it or [firstinitial].[lastname]@ubibanca.it
Format
mario.rossi@ubibanca.it
Example
0%
Success rate
Intesa Sanpaolo (Press Release) • April 12, 2021
The merger by incorporation of UBI Banca S.p.A. into Intesa Sanpaolo S.p.A. became legally effective, marking the final step in UBI Banca's integration. UBI Banca ceased to exist as a separate legal entity, and its operations, customers, and employees were fully absorbed into the Intesa Sanpaolo Group....more
Reuters • July 28, 2020
Intesa Sanpaolo announced it had secured acceptances equivalent to 90.2% of UBI Banca's share capital in its takeover offer. This success paved the way for the creation of the Eurozone's seventh-largest banking group by assets and significantly reshaped the Italian banking landscape....more
Financial Times • February 17, 2020
Intesa Sanpaolo, Italy’s largest domestic bank by assets, launched an unsolicited all-share public exchange offer to acquire its smaller rival UBI Banca. The deal, valued at approximately €4.9 billion at the time, aimed to consolidate the Italian banking sector....more
Bloomberg • July 6, 2020
UBI Banca's board of directors formally rejected Intesa Sanpaolo's takeover bid, deeming the offer inadequate and not reflective of UBI's intrinsic value, despite Intesa having slightly improved the cash component of its offer. This highlighted the contested nature of the bid before shareholders ultimately accepted it....more
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