Cassa Lombarda

What Cassa Lombarda does

Cassa Lombarda S.p.A. is an Italian independent private bank founded in 1923 and headquartered in Milan, operating under the direction and coordination of Swiss parent company PKB Private Bank SA. The bank delivers a comprehensive private banking offering to high-net-worth individuals, families, entrepreneurs, professionals, and family offices through three core pillars: discretionary asset management (Gestioni Patrimoniali), non-discretionary advisory services, and insurance solutions — complemented by Wealth Planning, the cross-border I-CH Swiss service via PKB, and traditional branch banking products. Its product suite spans classic portfolio lines (GP Balanced Risk Control, Fund Allocation, GP Target Allocation, GP Accumula) and personalized tiers (Universalis at €100,000 minimum, VIP Exclusive at €2,000,000 minimum), with open-architecture access to funds from Algebris, Amundi, BlackRock, JP Morgan, PIMCO, Schroders, and UBS, alongside proprietary dynamic allocation using State Street Global Advisors' Market Regime Indicator signals.

The technology stack combines Cedacri Group SpA's core banking infrastructure with PSD2/Open Banking APIs published via Cedacri's developer portal, modern online banking platforms (CORE BANKING, BANCA ONLINE NextGen), and a sandbox environment for Third Party Providers. The bank is regulated under Consob, IVASS (RUI/IVASS D000232722), MiFID, BRRD, SFDR, and GDPR frameworks. Distribution is anchored by six Italian branches (Milan, Bergamo, Busto Arsizio, Como, Perugia, Rome), supplemented by event sponsorships and content marketing including the 'Futuro Semplice' educational video series and the 'Vicini per andare lontano' blog. The bank's GTM is relationship-driven enterprise field sales through dedicated private bankers, with a recently launched institutional brand campaign in October 2025.

Revenue is generated through three primary streams: (1) recurring asset management and advisory fees as a percentage of AUM across multi-year subscription contracts; (2) transaction-based commissions from placing insurance products (Zurich Multinvest Extra multi-branch policies, Firstance broker distributions, life and private insurance); and (3) transaction-based fees from traditional banking services (deposits, transfers, currency exchange). AUM growth in 2025 reached record levels per the Board's approved financial statements, and April 2026 saw the bank acquire a 7.5% stake (9.6% voting rights) in Finlabo SIM S.p.A., extending its footprint into adjacent asset management capabilities. With 101-250 employees and €18 million in share capital, Cassa Lombarda operates a boutique model emphasizing independent, conflict-free advisory within a Swiss banking group structure.

Name

Cassa Lombarda

Legal name

Cassa Lombarda S.p.A.

Website

https://cassalombarda.it

Company type

Private

Founded year

1923

Operating status

Operating

Headcount range

101–250 employees

Short description

Cassa Lombarda is a Milan-based independent Italian private bank (founded 1923) serving high-net-worth individuals, families, entrepreneurs, and family offices through discretionary asset management, advisory, insurance, and cross-border Swiss banking services via six Italian branches.

Ownership category

akta.pro rank

Product category

Private Banking

NAICS

Portfolio Management and Investment Advice (523940), Depository Credit Intermediation (5221)

SIC

Investment Advice (6282), State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

Keywords

• Private banking services
• Wealth management advisory
• Discretionary asset management
• Insurance product distribution
• Investment advisory services

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Asset Management and Advisory Fees: Revenue generated from managing client assets through discretionary portfolio management (Gestioni Patrimoniali), advisory services, and other investment solutions. Fees are typically charged as a percentage of assets under management or through advisory commissions.
2. Insurance Product Distribution: Commissions earned from placing insurance products including life policies, private insurance, and multi-branch policies (polizze multiramo) through partnerships with Zurich and Firstance broker.
3. Banking Services: Traditional banking services including deposits, current accounts, transfers, and other branch-based banking operations generating fee income.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Cassa Lombarda is an Italian private bank providing discretionary portfolio management (Gestioni Patrimoniali), personalized advisory services, insurance solutions (life policies, multi-branch policies), wealth planning, cross-border banking via its I-CH service with Swiss partner PKB, and traditional branch banking services. The bank serves high-net-worth individuals, families, entrepreneurs, and family offices through a network of private bankers across Italian branches.

Product overview

Cassa Lombarda is an independent private banking boutique with over 100 years of history, offering a comprehensive suite of wealth management services organized into three main pillars: Gestioni Patrimoniali (discretionary asset management), Advisory (non-discretionary advisory services), and Soluzioni Assicurative (insurance solutions), complemented by specialized services including Wealth Planning, Servizio I-CH (cross-border Swiss banking access), and traditional banking products. The Gestioni Patrimoniali core offering includes classic management lines (GP Balanced Risk Control, Fund Allocation, GP Target Allocation, GP Accumula) and personalized solutions (VIP Exclusive, Universalis), while Advisory services encompass Private Advisory, Fund/Sicav selection, and bond placements. Insurance offerings include life policies, multi-branch policies (in partnership with Zurich), and private insurance for estate planning. Additional services cover Family Office B2B solutions, Private Markets, lending products (Lombard credit, mortgages, margin lending), and the educational video series Futuro Semplice.

Differentiator

Problem solved

Functional benefit

Brands

• I-CH: Cross-border service enabling clients to open and manage accounts at PKB, integrated with Cassa Lombarda's services and advisory

Products and services

• Gestioni Patrimoniali

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

One partnership is on record.

• PKB Private Bank SAcoreStrategic or Co-development PartnerPKB Private Bank SA is the Swiss banking group that exercises direction and coordination over Cassa Lombarda as its parent company. This affiliation provides international connectivity and Swiss banking expertise, enabling the I-CH cross-border service. Cassa Lombarda is subject to PKB's strategic direction while maintaining independent operations.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Banca Generali: Italian private bank and wealth management firm serving HNW clients with discretionary asset management, advisory, and family office services. Comparable product mix (gestioni patrimoniali, advisory, insurance wrappers) and similar customer segments, but at significantly larger scale.
• Fideuram (Intesa Sanpaolo Private Banking): Italian private banking arm of Intesa Sanpaolo, providing discretionary portfolio management, advisory, and wealth planning to affluent and HNW clients. Comparable core offerings though embedded in a larger universal banking group.
• Banca Sella Private: Italian private banking arm of Gruppo Banca Sella serving HNW clients with discretionary asset management, advisory, and wealth planning. Comparable boutique Italian positioning and product structure.
• Azimut Holding: Italy's largest independent asset management and wealth management group, offering discretionary portfolios, advisory, and private banking across Italy. Directly comparable boutique-style positioning versus the mass-affluent and HNW market, with similar open architecture distribution.
• Ersel: Italian independent private bank and asset manager serving HNW clients with discretionary portfolios, advisory, and family office services. Closely comparable in scale and independent boutique positioning, focused on the Italian HNW segment.
• Mediolanum Banca Privata: Private banking division within Banca Mediolanum serving HNW individuals with personalized wealth management, advisory, and family office-style services. Direct overlap in customer segment and service model.

Broad incumbents

• Banca Mediolanum: Italian retail and private bank serving affluent and HNW clients with wealth management, advisory, and discretionary solutions. Broader than Cassa Lombarda in mass-affluent reach but overlapping in HNW segments and product structure.
• Julius Baer: Swiss-headquartered global wealth manager serving HNW and UHNW clients with discretionary portfolio management, advisory, and wealth planning. Relevant comparator for cross-border Italy-Switzerland wealth management.

Others

• Finlabo SIM: Italian independent asset management firm (SIM) in which Cassa Lombarda acquired a 7.5% stake in April 2026. Complementary asset management peer relevant to Cassa Lombarda's product sourcing and Italian wealth management ecosystem.
• PKB Private Bank SA: Swiss private bank and parent company of Cassa Lombarda. Closely related through ownership and the I-CH cross-border service, offering Swiss-based wealth management to Italian clients with comparable service offerings.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cassalombarda

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cassa Lombarda