The division’s revenue contracted 5 percent to 447 million euros, though internal performance metrics showed mixed results. While management fees climbed 10 percent, these gains were offset by falling net interest income and a reduction in upfront performance fees. Net new money slipped by 1.4 billion euros, with the bulk of this outflow occurring during the first quarter of the year.
Mediobanca Wealth Management Profit Slides Amid Takeover
A 33 percent plunge in net profit to 81 million euros marks a difficult first half of 2026 for Mediobanca’s wealth management division. The Milan-based firm, currently being de-listed following a full takeover by Banca Monte dei Paschi di Siena, attributed the decline to one-off charges and rising tax burdens.
Despite the specific struggles within the wealth management unit, the broader Mediobanca group reported a 5.9 percent increase in net attributable profit to 711.2 million euros. Management indicated that the profitability decline in wealth management is expected to decelerate as operations normalize this autumn. These results follow the strategic move by Banca Monte dei Paschi di Siena to integrate the institution while maintaining the existing Mediobanca brand identity.
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