What Zurich Bank does

Zurich Italy Bank S.p.A. a socio unico (trading as Zurich Bank) is an Italian-licensed private bank wholly owned by Zurich Insurance Company Ltd, headquartered in Milan at Via Benigno Crespi 23. It was created in 2019 when Gruppo Zurich acquired the Deutsche Bank Financial Advisors network, inheriting a national distribution force of qualified financial consultants (Consulenti Finanziari) that today forms its primary commercial channel. The bank is registered with the Bank of Italy (Albo delle Banche #8098) and operates with €49,000,000 in paid-in capital; its commercial footprint comprises seven Z Point hybrid branches across Milan, Rome, Turin, Verona, Naples, Pomigliano d'Arco, and Empoli, alongside mobile and online banking platforms compliant with PSD2 strong-customer-authentication requirements.

Zurich Bank runs an open-architecture investment platform that distributes funds, SICAVs, certificates, and discretionary mandates sourced from roughly twenty international asset managers — including DWS, BlackRock, PIMCO, Carmignac, Anima SGR, Fidelity International, Schroders, Franklin Templeton, J.P. Morgan Asset Management, Morgan Stanley Investment Management, MFS, Capital Group, Pictet, UBS Asset Management, Invesco, Allianz Global Investors, Goldman Sachs Asset Management, Amundi, and others — together with an exclusive db Advisory Multibrands SICAV managed via DWS and Deutsche Bank's Discretionary Portfolio Management Italy team. The Zurich Bank Strategic Advisory platform applies a managed-container ('contenitore di risparmio amministrato') model with CVaR-based risk monitoring. Insurance investment and pension products (FlexInvest, Invest Platform, StepInvest, MultInvest Plus, PrestigeInvest, Target Solution, Spazio Previdenza, ZED Omnifund, Smart Protection) are manufactured by sister entity Zurich Investments Life S.p.A. and distributed through the bank's consultant network.

Revenue is generated through four streams: recurring advisory and portfolio-management fees on AUM and flat-fee contracts; transaction-based distribution commissions on third-party investment products; insurance intermediation commissions from Zurich Group insurance entities; and traditional banking fees and commissions on current accounts, cards (Visa tiers plus American Express personal and business cards issued with Nexi Payments), and lending (Zurich Credit Lombard and Zurich Smart Loan). The bank serves affluent and mass-affluent individuals, HNW/private-banking clients above €500,000 in assets, SMEs and professionals, and third-sector associations in Italy only, and it does not disclose financials publicly.

Name

Zurich Bank

Legal name

Zurich Italy Bank S.p.A. a socio unico

Website

https://zurichbank.it

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Zurich Italy Bank is a Milan-based private bank wholly owned by Zurich Insurance Group, distributing banking, investment, insurance, and pension products across Italy via an inherited nationwide network of financial consultants and seven Z Point hybrid branches, serving affluent, HNW, and SME clients.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Portfolio Management and Investment Advice (523940), Depository Credit Intermediation (5221), Finance and Insurance (52)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411), Commercial Banks, Nec (6029)

akta.pro primary industry

Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)

akta.pro secondary industries

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Managed Account Platforms (Separately Managed Accounts / Customized Portfolios) (FSAHAKAC)

Keywords

• Retail banking
• Wealth management
• Financial advisory
• Insurance investment
• Private banking

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Financial Advisory and Wealth Management Fees: Ongoing advisory fees and portfolio management fees charged to clients for strategic advisory, portfolio management, and discretionary mandates. Revenue is recurring in nature, generated from AUM-based and flat-fee advisory contracts.
2. Investment Product Distribution Commissions: Commissions earned from distributing third-party investment products including funds, SICAVs, certificates, and unit-linked insurance products. These include entry loads, trail commissions, and distribution fees from asset management partners.
3. Insurance Intermediation Commissions: Commissions from placing insurance products (life insurance, protection, pension products) underwritten by Zurich Insurance Group entities (Zurich Investments Life, etc.) through the bank's consultant network.
4. Banking Fees and Commissions: Account maintenance fees, transaction fees, card fees, and lending-related income from current accounts, credit/debit cards, and lending products (credit Lombard and smart loans).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Zurich Bank (legal entity: Zurich Italy Bank S.p.A. a socio unico) provides integrated retail banking, investment, insurance, and pension products to Italian individuals and small businesses. The bank distributes these offerings through a national network of qualified financial consultants (Consulenti Finanziari), seven Z Point hybrid branches in Milan, Rome, Turin, Verona, Naples, Pomigliano d'Arco, and Empoli, plus digital channels (mobile app, online banking). Core capabilities include open-architecture investment distribution across 20+ asset manager partners, advanced advisory services with discretionary portfolio management delegated to Deutsche Bank DPM Italy, and a full suite of insurance investment and protection products manufactured by affiliated Zurich entities.

Product overview

Zurich Bank is an Italian banking and financial advisory group operating under Gruppo Zurich, offering an integrated platform of banking, investment, insurance, and pension products distributed through a network of financial advisors. The product portfolio spans five core areas: (1) Banking Services including current accounts (Conto Dynamic, Privilege, Business Premium, Enti e Associazioni), credit cards (Visa Classic/Gold/Platinum/Infinite, American Express Personal and Business cards), debit cards (Smart Card, Debit Business, Debit Premium Card), lending solutions (Zurich Credit Lombard, Zurich Smart Loan), and digital banking (App Zurich Bank, Internet Banking, Z Point physical banking spaces); (2) Investment products including international funds (DWS, Carmignac), Italian funds (Anima SGR), SICAVs including the exclusive db Advisory Multibrands SICAV, certificates, and discretionary portfolio management; (3) Advanced advisory services including Strategic Advisory and Portfolio Management delegated to Deutsche Bank; (4) Insurance investment products including Zurich FlexInvest, Invest Platform, StepInvest, MultInvest Plus, PrestigeInvest, and Target Solution; and (5) Protection and Pension products including Zurich Spazio Previdenza (individual pension plan), ZED Omnifund (open pension fund), Zurich Smart Protection (life and accident insurance), and Zurich Care Autonomia. The platform is anchored by digital multichannel services including mobile banking, PSD2-compliant token authentication, and Z Point video-branch locations across Italy.

Differentiator

Problem solved

Functional benefit

Brands

• Z Point: Innovative banking space within select branches where customers can perform banking operations via video conference with operators from the Milan headquarters.
• Zurich Bank App
• La mia Banca - Online Banking

Products and services

• Conto Dynamic

Quantifiable outcome

• Zurich Credit Lombard offers minimum credit limit of €75,000 for real estate financing purposes.
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Deutsche Bank (Discretionary Portfolio Management Italy)coreTechnology or IntegrationDeutsche Bank's Discretionary Portfolio Management Italy team manages discretionary mandates on behalf of Zurich Bank clients. The team has received recognition as 'Best Italian Asset Manager' from the German Institute for Quality and Finance (ITQF). Provides fund-based, ETF, equity/bond, and customized asset allocation strategies under delegation.
• DWS (via db Advisory Multibrands SICAV)coreTechnology or IntegrationDWS serves as the management company for the db Advisory Multibrands SICAV platform, which is offered exclusively to Zurich Bank clients. The platform provides access to multiple sub-funds managed by carefully selected global Asset Managers, with DWS providing the platform infrastructure and Deutsche Bank's market view guiding sub-fund selection.
• Zurich Investments Life S.p.A.coreTechnology or IntegrationZurich Investments Life S.p.A. is the product manufacturer for all insurance investment and pension products offered by Zurich Bank (FlexInvest, Invest Platform, StepInvest, PrestigeInvest, MultInvest Plus, Target Solution, Smart Protection, Spazio Previdenza, ZED Omnifund). The bank acts as distributor of these products through its consultant network.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Banca Mediolanum: Italian bank built around a nationwide financial advisor network serving mass affluent and affluent clients with banking, investment, and insurance products. Most direct comparable: shared consultant-led, multi-product, integrated wealth model in Italy.
• Banca Generali: Italian private bank and wealth manager distributed through a financial advisor network (Generali Financial Advisors), offering discretionary portfolio management, open architecture funds, and banking services. Closely comparable in business model, distribution, and target client segment.
• Fideuram - Intesa Sanpaolo Private Banking: Italy's largest private banking network, part of Intesa Sanpaolo, with thousands of financial advisors serving affluent and HNW clients. Comparable in financial advisor-led wealth model and integrated banking-investment offering.
• Azimut Holding: Italy's leading independent wealth manager with a financial advisor distribution network focused on asset gathering, asset management, and private banking. Comparable as a financial-advisor-led, open architecture wealth platform.
• FinecoBank: Italian universal bank with an integrated online + financial advisor (Fineco Ambassador) model offering banking, brokerage, and investment products. Comparable in multi-channel distribution combining digital self-service with advisor-led wealth services.
• Allianz Bank Financial Advisors: Italian bank owned by Allianz Group distributing banking, investment, and insurance products through a financial advisor network. Highly comparable as a bank-insurance-FA network integrated model — the closest structural peer to Zurich Bank within Italy.
• Widiba (Banca Monte dei Paschi di Siena): Italian online bank with a financial advisor (Widiba Advisor) network offering banking, investment, and advisory services. Comparable in combining digital channels with FA-led wealth distribution.
• Mediobanca Private Banking: Italian private banking division of Mediobanca Group serving HNW and family office clients with discretionary portfolio management, advisory, and wealth planning. Comparable in private banking, discretionary management, and Italian HNW targeting.

Broad incumbents

• Deutsche Bank Italy: Italian branch of global universal bank with wealth management and asset management capabilities, and the original home of the Financial Advisors network Zurich Bank acquired. Comparable as a broad incumbent wealth/private bank in Italy and as a key partner.
• UBS Wealth Management Italy: Italian presence of UBS Global Wealth Management serving HNW and UHNW clients with discretionary management and advisory. Comparable in serving the Italian HNW segment with global investment capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zurich-bank-italia

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Zurich Bank